Solana slides over 7% to around $102 as on-chain metrics point to a $150 setup
AI Market Summary
Despite a ~7% pullback to ~$102, Solana demand indicators strengthened: ~9.5M new addresses/day, 52 additional whale wallets (10k+ SOL), and exchange balances down ~4.9% from net withdrawals. US spot Solana ETFs logged a ninth straight week of inflows (~$154M), while Bitwise's BSOL staking ETF surpassed $1B AUM. A governance vote also improved network speed, supporting the adoption narrative.
Impact level
● Medium
Affected assets
SOL/USDT-4.56%
AI Insight · SOL/USDTAI Insight
▲ Bullish
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Solana has pulled back more than 7% from a nearly $110 seven-month high to around $102. On-chain data show the network averaged 9.5 million new addresses per day over the past week and added 52 whale wallets holding at least 10,000 SOL, an increase of 1.58%, according to analyst Ali Martinez. Capital flows also remained firm, with almost $154 million in net inflows last week and Bitwise’s Solana Staking ETF (BSOL) surpassing $1 billion in assets under management. Martinez said $103 is a key support level backed by 39 million SOL in accumulated cost basis, suggesting demand has not been materially dented by the pullback.
