Solana (SOL) is making headlines again as whale and institutional accumulation fuels a 2.41% 24-hour gain, pushing its market cap to an impressive $102.43 billion. Could this be the start of a new rally towards its all-time high?
Solana News: Whale Accumulation Signals Bullish Sentiment
On-chain data reveals four major whale wallets withdrew over $23 million worth of SOL from exchanges like Binance and Kraken in just 24 hours. Key transactions include:
- 58,700 SOL ($11M) from wallet 7VbjYZ
- 38,000 SOL ($7.3M) from wallet BnwZvG
This strategic accumulation suggests long-term confidence in Solana’s potential.
Institutional Buying Boosts Solana Price
Upexi, a treasury firm, recently added 83,000 SOL ($16.7M) to its holdings, bringing its total stake to 1.9 million tokens. This institutional support comes as Solana leads blockchain revenue rankings for the 18th consecutive week, generating $200.65M in fees.
Solana Market Cap Hits $102.43B: What’s Next?
With SOL trading at $191.02 and a fully diluted valuation of $115.45B, analysts are watching key indicators:
| Metric | Value |
|---|---|
| 24-Hour Gain | 2.41% |
| Trading Volume | $6.72B (+88.57%) |
| Volume/Market Cap | 6.5% |
Can Solana Challenge Its All-Time High?
Comparisons to BNB’s recent ATH of $859 have emerged, with some speculating SOL could follow suit. However, macroeconomic factors and regulatory developments remain crucial for sustained growth.
Frequently Asked Questions
Why is Solana’s price rising?
Increased whale and institutional accumulation, combined with strong on-chain activity, is driving SOL’s price upward.
What’s Solana’s current market cap?
As of this report, Solana’s market capitalization stands at $102.43 billion.
How does Solana compare to Ethereum?
Solana has outperformed Ethereum in weekly fee generation ($200.65M vs Ethereum’s $185.2M) and offers faster transaction speeds with lower fees.
What risks could affect Solana’s price?
Potential Fed rate hikes, regulatory actions, or shifts in institutional preference could impact SOL’s trajectory.
