Solana Network Growth Defies Price Weakness Amid ETF Outflows

Solana's network growth is defying its price weakness as it adds approximately 10.2 million new wallet addresses daily, despite trading near $115. This growth comes amid persistent selling pressure and the first exchange-traded fund outflows in nearly two weeks.

Data shows that Solana is generating around 10.2 million new addresses each day, which represents wallets that have completed their first transaction on the network. This trend has historically preceded price recoveries in past Solana cycles, with new participants absorbing supply from short-term sellers and creating conditions for stabilization.

The token is holding above $115 support while trading inside a descending broadening wedge pattern, which technical analysts view as bullish. To confirm a breakout, SOL must clear $123 resistance, targeting $132 and $136. Failure to breach this level could keep the token range-bound, or push prices toward $110 and invalidate the bullish thesis.