Solana: Is This It?! 🚀

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Right. So, apparently, Solana is having a bit of a moment. A ‘historic moment’, they’re calling it. As if history hasn’t had enough moments already. Total Value Locked (TVL) is hovering around the rather arbitrary number of $13 billion – a figure which, let’s be honest, seems mostly designed to impress people who enjoy large numbers. And it’s overtaken BNB to become the fifth-largest cryptocurrency. Which is, you know, good for Solana. Presumably.

Institutional inflows, whale activity, and a wave of staking are creating a chain reaction. It’s all very… reactive. They’re saying this pushes SOL closer to its previous All-Time High (ATH). Because setting new highs is *so* last year. Could this be the ‘true beginning’ of a “SOL season”? Possibly. Though, seasons change, don’t they? 🤷

Major Tailwinds for SOL (Or Just a Mild Breeze?)

Solana (SOL) has experienced a ‘leap’. A leap! As if it sprung suddenly from a hidden patch of crypto-grass. The TVL, as previously established, is up. This growth ‘reflects renewed confidence’. In what, exactly? The fact that numbers can go up?

As TVL increases, protocols return capital and liquidity improves. Apparently. It’s all very circular. And capital, from institutions and retail investors, is returning. Like salmon swimming upstream to spawn – only with slightly more complicated software.🐟

The real story, it seems, is institutional capital. Galaxy Digital, Jump Crypto, and Multicoin have collectively dropped $1.65 billion on Solana. It’s a ‘PIPE’ – a rather unfortunate acronym when considering the implications. This sort of investment usually triggers significant buying pressure, and reduces circulating supply. Which is, naturally, excellent for… someone.

Consequently, Solana’s market cap has ‘exploded’. An explosion of numbers! And it’s now the fifth-largest cryptocurrency. This fuels narratives about a “SOL season”, suggesting sustainable growth. Which, statistically, is a mild overstatement. 🙄

Whales are involved too. Galaxy Digital bought 700,000 SOL (worth $160 million, give or take). FTX/Alameda redeemed and transferred some. And a whale address staked a considerable amount. Because whales like staking. It makes them feel secure. Apparently. These moves ‘signal that big capital is betting on Solana’s long-term potential’. Or, you know, just looking for a return. 🤷‍♀️

$238 Resistance – The Last Hurdle Before… Something Else.

Technically speaking, SOL appears to be experiencing ‘strong momentum’. It’s reclaimed the $216 resistance zone and is now eyeing $238. The final major resistance before…what exactly? Retesting its all-time high? The existential dread of knowing it can’t go up forever? Analysts predict a “trade of the cycle,” with a potential 3x surge if bullishness continues. If. A big if.

“Meaning, Solana’s bullish tailwinds could ignite a 3X in price within a short matter of time,” Lark noted.

But! Analysts also suggest pullbacks could offer opportunities. Because that’s how markets work. Keep everyone guessing.

SOL’s price has soared 30% in a month, with futures open interest increasing by 300% since August. A liquidity cluster near $226 could trigger short liquidations, boosting momentum. Climbing RSI suggests room for gains. Or a pullback. It’s really a coin toss.

However, there’s a risk of a pullback due to unrealized profits. And exchange outflows are down. Also, some user named Murphy has some observations. Apparently, those who bought at $144-$165 are still sitting on some tidy profits. And aren’t cashing out… yet. 🧐

“As long as the profitable chips below don’t rush to cash out, the resistance to pushing SOL higher isn’t significant. It’s fair to say everything is ready, and all that’s missing is the final push.” Murphy noted.

So there you have it. Solana. Potentially going up. Or not.

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2025-09-12 08:48