Solana is capturing investor attention after a significant surge in activity metrics and recent corporate announcements.
Solana’s CDD Spike
On June 3, Solana recorded its third-largest CDD spike of the year, totaling 3.55 billion. Data from Glassnode indicates that such increases often signify activity from long-term holders, including previously dormant wallets. Similar spikes were noted in February and March, often preceding price corrections.
Technical Analysis and Trends
Currently, Solana is trading around $156.89 and is forming a falling wedge pattern, seen as a potential bullish reversal signal. Traders noted a bounce off the lower boundary at $153.60, indicating renewed buyer interest. The key level to watch is $160.14, as a confirmed close above it may lead to further upward movement.
Classover’s Acquisition Plans
Classover Holdings based in New York announced plans to borrow up to $500 million to acquire Solana for its corporate treasury. The company has already purchased 6,472 SOL valued at approximately $1 million. This trend reflects growing institutional interest in Solana.
The increase in CDD activity and significant corporate investment positions Solana as a notable player in the cryptocurrency market.
