The post Solana (SOL) Sees Record Growth In Wallet Addresses  appeared on BitcoinEthereumNews.com.

Solana’s (SOL) on-chain data has reported wallet growth and major exchange outflows, pointing to a shift in user behavior. According to a recent tweet by Ali Martinez, over 11.12 million wallets hold more than 0.1 SOL, marking a new all-time high in-network use. Between March 18 and March 27, Solana recorded increased active wallet addresses holding at least 0.1 SOL. The number reached 11.198 million by March 27, marking a sharp rise in user activity. The most jumps occurred on March 20, contributing to a consistent upward trend through the end of the week. Source: X The increase in the overall number of wallets was accompanied by price changes. Solana reached $132 on March 18 and got as high as $142.97 or as low as $138.44 by March 25. The price behavior correlates to the increased activity visible on-chain, which could be attributed to the new users or investments during this period. Exchange Outflows Point to Long-Term Holding Behavior In parallel with the wallet growth, Solana has also been experiencing constant exchange outflows since June 2024. The inflow increased in the middle of January and early March, which can be associated with the price jumping to nearly $200 and $150. Source: Coinglass Following these sudden gains in exchange balances, outflows resumed at an accelerated pace. This behavior implies that traders may have capitalized on short-term opportunities before returning to focus on long-term holding. The persistence of this trend, even during periods of volatility, signals a planned shift in market position. Solana Price Slides Amid Broader Market Caution Solana’s price has come under pressure in recent sessions. On March 29, the asset dropped 4.27% to $125.35 after reaching an intraday high of $130.99. The decline coincided with a 23.28% fall in trading volume, which fell to $2.63 billion. The market cap…

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Filed under: News - @ March 30, 2025 12:23 am