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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market
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Breaking News: Trump Prepares To Allow Crypto Investments In $9 Trillion Retirement Market

Solana Hits New Milestone: Wallets Holding 0.1+ SOL Reach Record High

Sebastian Villafuerte
Sebastian Villafuerte
1 month ago
3 mins read
Solana Hits New Milestone: Wallets Holding 0.1+ SOL Reach Record High

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Solana has returned to the spotlight as speculation around a potential Solana ETF approval gains momentum. While still unconfirmed, growing signals from market insiders suggest that regulatory green lights may not be far off. If approved, a Solana ETF would mark a major milestone for the ecosystem, opening the door to traditional capital flows and broader institutional exposure, similar to what Bitcoin and Ethereum experienced following their own ETF breakthroughs. For long-term investors, this development could set the foundation for a new phase of sustainable growth.

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Supporting this bullish outlook is fresh data from Glassnode, which shows that the number of wallets holding over 0.1 SOL has reached a new all-time high. This milestone marks an increase in retail participation and growing confidence in Solana’s long-term potential. As the network continues to mature, the rise in small holders also signals expanding grassroots adoption—an encouraging sign during a period of market uncertainty.

While short-term price action may still be driven by broader macro trends, sentiment around Solana is clearly improving. If ETF approval becomes a reality, the combination of increased accessibility and rising on-chain adoption could significantly boost Solana’s market position in the coming months.

Solana Growing On-Chain Adoption

Solana is currently trading below the $150 mark after experiencing a sharp retracement from its May high. The asset has lost more than 20% in value since peaking earlier this cycle, driven largely by broader market consolidation and declining risk appetite across altcoins. Despite the recent pullback, SOL continues to hold a strong support zone near the $135–$140 range, which has proven resilient during previous sell-offs.

Analysts remain cautiously optimistic, noting that a sustained push above key supply zones—particularly the $155–$165 range—could reignite bullish momentum. However, the market remains in a phase of indecision. Price action across major assets, including Solana, reflects uncertainty as traders wait for a clear breakout or breakdown to confirm the next move. Without a strong catalyst, SOL may continue to consolidate alongside the broader altcoin market.

Amid the sideways price action, one encouraging signal is the growing on-chain adoption. Top analyst Ali Martinez shared data from Glassnode showing that the number of wallets holding over 0.1 SOL has reached a new all-time high, now exceeding 11.44 million. This steady rise in non-zero wallets points to expanding retail participation and long-term holder confidence, even as short-term volatility persists.

Solana Number of Addresses With Balance >= 0.1 | Source: Ali Martinez on X
Solana Number of Addresses With Balance >= 0.1 | Source: Ali Martinez on X

The divergence between price action and user adoption suggests that Solana’s fundamental growth remains intact. If momentum returns and macro conditions improve, Solana may be well-positioned for a breakout, especially with ETF rumors fueling speculative interest. For now, the $150 level remains a psychological pivot as the market watches for signs of direction.

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SOL Price Action Details: Key Levels To Watch

Solana (SOL) is currently trading at $149.30, just below the key resistance confluence of the 50-day, 100-day, and 200-day moving averages, all clustered between $150 and $151. This area has acted as a strong technical barrier, and SOL’s repeated failure to reclaim it reflects the market’s hesitancy amid broader uncertainty. After rallying to $159.99 earlier in the session, bears stepped in and pushed the price back down, closing the candle with a bearish wick, signaling ongoing selling pressure.

SOL consolidates below $150 | Source: SOLUSDT chart on TradingView
SOL consolidates below $150 | Source: SOLUSDT chart on TradingView

The chart reveals a prolonged consolidation pattern that has developed since the mid-May rejection near $180. Despite several bounce attempts, SOL has not been able to regain bullish momentum. The volume profile also suggests fading interest during upswings, a common trait during accumulation or exhaustion phases. Notably, price remains above the March low, preserving a key higher low structure, which is crucial for the broader bullish outlook.

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If SOL breaks above the $151–$155 range with sustained volume, it could trigger a move toward $180. However, failure to clear this resistance might lead to another test of support around $135. Traders should watch for a decisive close above the moving average cluster to confirm trend continuation, especially with ETF speculation fueling long-term optimism.

Featured image from Dall-E, chart from TradingView

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Sebastian Villafuerte
Sebastian Villafuerte

Sebastian Villafuerte

Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies.

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To share his insights with others, Sebastian became an active contributor to online discussions on platforms like X and LinkedIn. His focus on fintech and crypto-related topics quickly established him as a trusted voice in the online crypto community. Sebastian's goal was to educate and inform his audience about the latest trends and insights in the rapidly evolving crypto landscape.

To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance and decentralized finance. The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology.

Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K reports, or engaging in thought-provoking discussions about the future of finance.

Sebastian's journey as a crypto pioneer has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable contributor to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and helping to shape the future of this revolutionary technology.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

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