Recently, Solana attracted significant investments, and the number of active users is growing, indicating a return of confidence in this cryptocurrency.
Return of Capital Inflows to Solana
This week, Solana increased the volume of ETP (exchange-traded product) by $78 million, the largest amount among all altcoins. These investments indicate that large investors, such as hedge funds, are betting on the increase in the price of SOL. When big players start to invest money, it can signal significant changes in the market.
User Activity is Increasing
The number of active addresses in the Solana network is rising again and currently stands at nearly 16 million. This number of daily users sending or receiving SOL has increased from low levels noted in early June. Such a trend usually bodes well for price changes.
Signals of Market Confidence
Analysis of net flow indicates that trader activity in the market is decreasing. Following significant selling in April and May, July has seen stabilizing net flows, suggesting that traders are not rushing to sell their assets. This also points to a renewed confidence among investors in future price increases. Moreover, many Solana token holders are in profit and are not withdrawing SOL from exchanges, supporting the current favorable trend.
The Solana market shows positive signs: substantial investments, growth in active users, and trader confidence. If the price of SOL can break the $170 level, it may open the way for new high targets.
