Solana Holders Gobble Up $367 Million SOL in A Week Amid Price Fall
The post Solana Holders Gobble Up $367 Million SOL in A Week Amid Price Fall appeared on BitcoinEthereumNews.com.
Solana’s recent price action has been marked by a slight decline, as the cryptocurrency failed to maintain support above the $200 level. While the market sentiment appears mixed, signs suggest that Solana could potentially recover and climb higher. However, the next few days will be crucial to determine whether it can regain momentum or face further challenges. Solana Investors Move To Accumulate Throughout July, Solana’s funding rate had remained positive, signaling trader confidence in the cryptocurrency’s potential. However, the funding rate is now nearing the point of turning negative. If this occurs, it would reflect waning optimism among traders. The shift in sentiment is crucial, as a negative funding rate would signal that traders are no longer betting on a price rise. Instead, they may anticipate further declines, which could lead to a higher concentration of short positions. This change would likely push the price lower in the short term. For token TA and market updates: Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here. Solana Funding Rate. Source: Coinglass Solana’s balance on exchanges has dropped by 2.03 million SOL in the past week, signaling increased accumulation. This is indicative of investors purchasing $367 million worth of SOL, likely in anticipation of future gains. As the price of Solana declined, many investors have accumulated tokens. This accumulation, however, shows that investors are expecting Solana to recover eventually. With more SOL leaving exchanges, there is a growing belief that prices could rise again, with investors preparing to book profits once the price rebounds. Solana Exchange Balance. Source; Glassnode SOL Price Has Not Lost A Lot Solana’s price currently sits at $181, holding above the crucial support level of $171. While the spot market remains optimistic, mixed signals from the derivatives market suggest that the SOL…
Filed under: News - @ July 31, 2025 9:28 pm