Fidelity Digital Assets’ Q2 2026 Signals Report identifies a bullish indicator for Solana (SOL), the underlying asset for SOLZ. The network's Net Unrealized Profit/Loss (NUPL) metric fell to -0.67. This level historically preceded a median one-year return of 516%.
Fidelity cautioned that this historical pattern relies on only ten data points. The report classifies the current NUPL level as the Capitulation zone. This suggests a significant number of investors have already exited their positions.
Solana’s price has declined 71% from its 2025 all-time high. However, network usage accelerated during the first quarter of 2026. Monthly active and new addresses grew significantly despite the asset's price volatility.