The recent Solana price drop below 130 dollars, recorded this Wednesday following a generalized market retreat, has generated a high-expectation scenario among investors. Despite the bearish pressure, on-chain data reveals that large holders are taking advantage of the discount to accumulate more tokens, showing solid confidence in the asset’s recovery potential for the coming weeks of this year.
According to Glassnode reports, addresses holding between 1,000 and 10,000 SOL have aggressively increased their participation, now controlling nearly 9% of the circulating supply. This accumulation phenomenon, coupled with a steady decrease in supply on exchanges, suggests that selling pressure is diminishing drastically, which could act as a catalyst for a significant technical rebound in the digital market.
Likewise, the balance of SOL on trading platforms has fallen to levels not seen since early 2023, reaching historical lows of the last two years. This shortage of liquidity available for sale, combined with the growing demand from institutional investors globally, reinforces the thesis that the market is in a strategic consolidation phase before a potential upward movement during this active financial period.
Strengthening of the network and the boom in active addresses
On the other hand, the activity within Solana’s Blockchain has shown signs of exceptional vitality, with a 51% increase in daily active addresses recently. According to Nansen data, the number of unique users exceeded 27 million during the last week, reaching a six-month high that reflects robust engagement with decentralized applications and staking services throughout the global network.
Furthermore, average daily transactions climbed to 78 million, positioning Solana as a leader in performance and scalability compared to other layer-one protocols. This organic growth, driven by real usage of the platform, indicates that the ecosystem continues to expand despite volatility, which usually precedes a revaluation of the asset when global market conditions stabilize for all investors.
In addition to this, the supply of stablecoins within the network has reached an all-time high of 15 billion dollars, injecting unprecedented liquidity into the system. By having more capital available for trading and settlement, Solana’s financial environment becomes more resilient, attracting the interest of analysts who see this metric as fundamental support to sustain a parabolic rally in the near future.
Will Solana manage to consolidate its recovery after the increase in liquidity?
Therefore, the massive entry of capital in the form of stablecoins represents an unequivocal signal of preparation for greater commercial activity. In this way, the network is not only processing more data, but it is also attracting the necessary resources to fund growth, which is a key indicator of health for any large-scale blockchain project in today’s world.
Nonetheless, the sustainability of this potential rebound will depend on the price managing to stay above the critical support of 120 dollars. While momentum indicators such as the MACD have shown positive reversal signals, the final recovery will require a full absorption of supply, especially if macroeconomic conditions continue to exert pressure on risk assets during the rest of the month.
Finally, the current situation suggests that the drop has been interpreted as a buying opportunity by strong hands in the market. Consequently, the evolution of the price will be linked to the network’s ability to retain its new users, while the market assimilates that the shortage of supply on exchanges could force a price adjustment upward in the face of any sudden increase in demand.
