The Solana Liquid Staking market is expected to see massive growth reaching $18 billion in TVL.
Stock market flows indicated positive sentiment in the market, which reinforced the bullish bias.
The total value locked on Solana (SOL) is growing at a steady pace. According to a tweet by a popular analyst, the market for tradable tokens could increase by five times, which could eventually push Solana’s total value locked to $18 billion.
New Liquid Staking Tokens from Binance, Bybit, and Bitget Could Accelerate the Pace
As TVL grows, Solana becomes more secure and attractive to market participants. This increase could push more liquidity into the network, boosting DeFi activities.
Whale activity attracts large amounts of liquidity
In addition to the aforementioned spike in TVL, whale activity continues to impact the Solana market. Coinglass liquidation heatmap data indicated a $10 million liquidity pool at the $138 price level.
This indicates a bullish bias as whales protect this price range.
As assets become more restricted by protocols, prices may stabilize or rise further. Whale activity appears to be key to understanding Solana’s future market movements.
Outflows from Solana Exchange Spark Bullish Sentiment
Exchange outflows indicate that investors are holding SOL instead of selling. More SOL is being locked up in staking protocols, leading to less liquidity on exchanges. This scarcity suggests that prices could rise in the future as demand increases.
As TVL grows, external exchange flows add to the bullish sentiment, pushing SOL higher.
The stochastic RSI has recently indicated a bullish crossover. This indicates an upward momentum for Solana stock in the near future.
Read Solana [SOL] Price Prediction 2024-2025
Chart patterns also show strong support at the $135-138 range, in line with liquidity pools as a result of whale activity.
The increase in Solana’s overall stock value, supported by cash flow and whale activity, points to a promising near future. As selling pressures fade due to exchange flows, SOL could see significant gains in the near term.
