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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Solana Investors Stay Firm As Selling Pressure Eases – Details

Semilore Faleti
Semilore Faleti
5 months ago
2 mins read
Solana

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Este artículo también está disponible en español.

Solana (SOL) has been in the news over the last few weeks, albeit for different reasons. The popular altcoin was one of the many benefactors of a Donald Trump presidential victory, rising by 67.69% in three weeks after November 5 to reach a new-all time of $263. 

However, this price surge has been followed by a gradual recorrection of 15.13% in the last two weeks. Albeit, recent data on investors’ behavior shows significant market optimism on the fifth-largest cryptocurrency.

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5 months ago

Solana ‘New’ Investors Buoyant On Bullish Future

In an X post on December 13, blockchain analytics company Glassnode shared an insightful report on Solana investors’ activity in recent weeks. According to Glassnode, Solana investors who entered the market 1-2 years ago have now offloaded significant portions of their holdings.

The analytics team explains that these investors likely bought Solana during its 2021 bull run and have now taken profits during the price rally in November, reducing their market share from 48% in June to below 5% currently.

While a drop in long-term holdings can sometimes signal doubts about an asset’s future potential, Glassnode views these recent sales as purely transactional with most investors looking to sell ahead of the next bull run now exiting the market.

Importantly, this selling pressure has been absorbed to a significant extent by new Solana investors of the last 6-12 months who increased their market holdings to 24% during Solana’s latest price surge. Such massive investment at rising price levels indicates confidence among new holders in Solana’s long-term profitability despite its current price dip.

Solana
Source: Glassnode

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Solana Set For Explosive Growth: Expert Predicts 1650% Price Increase Based On This Pattern

5 months ago

VanEck Predicts SOL To Reach $500 In Q1 2025

In other news, prominent asset manager VanEck has dropped a bullish prediction for Solana ahead of 2025.  In their latest insight on digital assets, Head of Digital Assets Research Matthew Sigel, and Senior Investment Analyst Patrick Bush have jointly forecasted the general crypto market to maintain its bullish form going into the new year. 

On that note, the digital assets will attain their first market peak in Q1 2025 with Bitcoin attaining a price of $180,000. During this rally,  Solana is projected to trade at $500, indicating a potential 124.21% gain on the asset’s current price. 

However, VanEck analysts warn that this surge will likely be followed by Bitcoin experiencing a 30% price recorrection while altcoins including Solana record declines of about 60% as the market enters consolidation in summer.

At the time of writing, Solana continues to trade at $227 reflecting a 0.34% gain in the past day. Meanwhile, the asset’s trading volume is down by 14.28% and valued at $4.12 billion.

solana
SOL trading at $226 on the daily chart | Source: SOLUSDT chart on Tradingview.com
Featured image from CoinJournal, chart from Tradingview
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Semilore Faleti
Semilore Faleti

Semilore Faleti

Semilore Faleti is a cryptocurrency writer specialized in the field of journalism and content creation. While he started out writing on several subjects, Semilore soon found a knack for cracking down on the complexities and intricacies in the intriguing world of blockchains and cryptocurrency.

Read more

Semilore is drawn to the efficiency of digital assets in terms of storing, and transferring value. He is a staunch advocate for the adoption of cryptocurrency as he believes it can improve the digitalization and transparency of the existing financial systems.

In two years of active crypto writing, Semilore has covered multiple aspects of the digital asset space including blockchains, decentralized finance (DeFi), staking, non-fungible tokens (NFT), regulations and network upgrades among others.

In his early years, Semilore honed his skills as a content writer, curating educational articles that catered to a wide audience. His pieces were particularly valuable for individuals new to the crypto space, offering insightful explanations that demystified the world of digital currencies.

Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative.

Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information.

Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets.

Outside his work, Semilore possesses other passions like all individuals. He is a big music fan with an interest in almost every genre. He can be described as a “music nomad” always ready to listen to new artists and explore new trends.

Semilore Faleti is also a strong advocate for social justice, preaching fairness, inclusivity, and equity. He actively promotes the engagement of issues centred around systemic inequalities and all forms of discrimination.

He also promotes political participation by all persons at all levels. He believes active contribution to governmental systems and policies is the fastest and most effective way to bring about permanent positive change in any society.

In conclusion, Semilore Faleti exemplifies the convergence of expertise, passion, and advocacy in the world of crypto journalism. He is a rare individual whose work in documenting the evolution of cryptocurrency will remain relevant for years to come.

His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry.

Whether through his meticulous reporting at NewsBTC or his fervent promotion of fairness and equity, Semilore continues to inform, educate, and inspire his audience, striving for a more transparent and inclusive financial future.

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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

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

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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