Solana Wallets Hit Record High; What’s Next for SOL Price?

Key Insights:

• 11.44M wallets hold 0.1+ SOL, showing growing retail demand.
• Robinhood adds staking for ETH ($3.4K) and SOL ($155).
• Solana ETF approval odds at 99%, boosting $SOL valuation prospects.

Solana (SOL) price has been consolidating in the past 24 hours, staying below the key $150 support level after a minor market correction. The cryptocurrency continues to face challenges in making a strong recovery. Meanwhile, other major digital assets like Bitcoin (BTC), Ethereum (ETH), XRP, and Cardano (ADA) are also trading sideways, with both bulls and bears in a standoff.

Solana Wallets Holding 0.1+ SOL Reach 11.44 Million

The number of Solana wallets holding more than 0.1 SOL has reached a new milestone, surpassing 11.44 million addresses. This significant increase highlights growing adoption and interest in Solana’s blockchain.

Data from Glassnode, shared by Ali on X, shows a sharp rise in the number of addresses with a balance of at least 0.1 SOL, marking an all-time high. The trend suggests that more investors and users are engaging with Solana, potentially signaling confidence in its ecosystem.

As of the latest data, the total number of addresses holding this amount of SOL stood at 11,438,132. This surge is further supported by the coin’s current price movement, sitting at $150 per SOL.

Solana Crypto ETF Approval Odds Surge to 99%

According to Polymarket, there is now a 99% chance that a Solana ETF will be approved by the end of 2025. This sharp rise represents a 25% increase in probability, signaling growing optimism among traders and crypto enthusiasts.

The activity on the market elicited much concern, as the number exceeded 219,000 dollars even in terms of trading volume. It is of the month of December 31 2025 when it is expected that the resolution will be made and the users are checking on July 31 as an interim point.

This confidence wave can probably be explained by prevailing changes in the regulatory mentality as well as increasing institutional demand regarding crypto-related investment vehicles. An ETF on Solana would be a significant breakthrough in the crypto industry that can enhance the adoption by the mainstream.

Recently, a new wallet was established, which has spent on purchasing 1.08 million Fartcoin 7,980 SOL ($1.24 million) and paid 1.15 dollars per unit.

The sequence of transactions, registered in Solscan, displays the wallet transfers the big quantities of SOL to a variety of addresses and then buying the new cryptocurrency. The acquisition was made only a few hours back, and the move got the attention of the market because of the significant investment in Fartcoin.

Is SOL Price Headed Lower or Ready to Rebound?

At the time of reporting, the SOL price is trading around $149, reflecting a 0.66% dip within the 4-hour window. The price is currently testing the psychological support at $150 after falling from its recent peak.

The Relative Strength Index (RSI) also declined to 48.53, indicating a decline in the bullish strength. The RSI had approached 62 in the past but could not maintain levels above the 60 zone. This indicates the potential extension of short-term correction.

In the meantime the MACD is indicating a bearish crossover. The signal line has crossed above the MACD line and a red histogram has been seen to form below zero.

A bearish flag pattern has formed, suggesting a potential downside continuation unless a breakout invalidates the pattern. If SOL fails to reclaim the $150 level convincingly, the next key support lies at $145. A breakdown below $145 could open the path toward the $140 support area.

On the flip side, a move above the $150 resistance could reintroduce bullish momentum. A successful breakout from the descending channel may trigger a push toward the $155 resistance. If bulls regain full control, the $160 level becomes the next upside target.

Disclaimer

This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.