Major Whale Movements on Solana Suggest Future Growth
Significant deposits and withdrawals by key players like Pump.fun indicate that large investors are paving the way for Solana's (SOL) price growth. Pump.fun deposited 798,869 SOL worth approximately $154 million on the Kraken exchange while selling 264,373 SOL for $41.64 million USDC. Other whales have withdrawn over 250,000 SOL in the past month, highlighting efforts to manage liquidity and influence market conditions.
The accumulation of SOL could reduce circulating supply, stabilizing prices and driving growth. This move suggests that whales are betting on Solana’s future price surge.
Solana's Network Speed Surpasses 1,300 TPS
One of Solana’s standout features is its incredible speed. The network processes over 1,300 transactions per second (TPS), showcasing its capability to support large-scale decentralized applications and meet user demands.
This milestone underscores Solana's technical prowess in blockchain networks, enabling efficient scalability and increasing its appeal to developers and users. As a result, Solana solidifies its position as one of the most powerful blockchains in the market.
Price Action: Solana Targets $280
On the four-hour chart, SOL is consolidating in a critical range between $238.20 and $239.12, with a bullish trend signaling potential resistance at $242.10. If Solana continues its upward momentum, the target price of $280 represents a key threshold for further growth.
Technical indicators such as MACD and stochastic RSI point to buying pressure, although a minor short-term dip is possible. However, the price remains bullish, indicating the potential for further strengthening.
Solana: Ready for the Future
With growing adoption and innovations like high TPS, Solana is cementing its position in the market. Its infrastructure and technological advantage attract new projects and support decentralized applications, affirming its status as a leader in the blockchain space.
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