Solana's Bull Run Gains Traction with Strong Liquidity Setup

Solana's price has been surprisingly resilient in the face of massive sell-side pressure. On September 26th, an unidentified whale transferred 500,000 SOL to Binance, valued at around $60.5 million, with an average cost basis of $121.

This move would have sent most altcoins plummeting, but Solana barely flinched, closing the day down only 0.3% and jumping 0.4% the following day to hover around the $120 level.

The smart money is increasing its positions in Solana, with Bitfinex whales' SOL long positions skyrocketing and Solana ETFs purchasing 2.32 million SOL worth approximately $278 million over the past two weeks, pushing total AUM to $2.283 billion.

Solana's liquidity setup has become too strong to ignore, and Q4 could be off to a bullish start with global money supply climbing to a new all-time high of $103.66 trillion in August alone.