Solana Price Rally Potential Signaled by Whale Accumulation and Institutional Investment
Solana's recent price drop from $110.50 to approximately $100.40 has been accompanied by significant on-chain activity, indicating potential for a rally towards $150.
According to cryptocurrency analyst Ali Charts, Solana has averaged around 9.5 million new wallet addresses daily over the past week, signifying sustained network expansion and adoption.
Large holder activity has intensified, with 52 additional whale wallets emerging in the last week, each holding 10,000+ SOL. This accumulation reduces circulating supply available for active trading.
Institutional investment remains consistent, with spot Solana ETFs in the United States recording seven consecutive weeks of capital inflows, adding over $120 million worth of SOL to these investment vehicles.