Solana (SOL) wey dem dey sell for exchange don reduce, as big big companies dey buy am and price don go up, dis one show say market go rise.
Solana (SOL) don don change for price and how dem dey supply am for recent months. Before, SOL dey face serious selling pressure, with volumes reaching 1.26 million SOL and price dropping below $172 support as institutions dey re-evaluate risk and general economy dey shaky. But, latest data show say SOL supply for centralized exchanges (CEXs) don drop sharp 27.4% since March, now na 27.01 million tokens, wey don near di lowest level since October 2022. According to on-chain analyst Murphy, dis drop na because institutions dey show more interest, more people dey stake (over 64% of SOL don dey staked), big whales dey buy am, and DEX trading volumes don increase, especially after meme coin activity burst. Di recent spot ETF filings by Grayscale, Fidelity, and Franklin don still boost institutional demand, with like 90% chance of approval for 2025 according to Bloomberg. Big withdrawals from exchanges like Binance and Kraken dey hint say whales dey move their SOL go for long-term storage or on-chain use, wey dey reduce immediate sell pressure. Di way CEX supply dey reduce, TVL dey increase, and price dey strong—SOL don rise over 15% for di past month to around $174—dey show say bullish foundation strong. Key resistance still dey around $176, and if e break there, e fit go higher. Overall, even though na good idea to trade careful for short-term because of resistance zones between $162 and $176, di updated supply and demand trends for SOL dey show bullish outlook for traders.
Bullish
Di first report, dem tok say price go fall small for short time and market go dull because big big companies dey comot their money from risky investment and the economy no stable. But as e dey go, things don change, e show say market go rise well well: SOL wey dey for exchange don reduce kpata kpata, wey suppose make people no rush sell and e fit make price go up. Big companies too don dey show interest, especially because dem don dey apply for spot ETF and plenty big investors (whales) don dey buy plenty, as over 64% of the SOL wey dey don dey staked. As dem dey carry tokens comot from exchange put am for DeFi or cold storage, money wey dey available for quick trade don reduce, and na so e dey always be when price wan go up. Recent increase in total value locked (TVL) and how much trade dey happen for DEX, plus the price wey don rise and possibility of ETF approval by 2025, don make the market outlook very strong. Even if price fit shake small between $162 and $176, the way supply and demand dey now, plus wetin big companies dey do, clearly show say market go rise for both short and long term.