Coinspeaker
15 hour ago
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SOL Breakout Point: Whale Makes Major Transfer as ETFs Hit $655M

Solana (SOL) experienced a 4% increase with a 35% rise in daily trading volume on December 10. Analysts suggest this might be the start of a larger breakout due to increased whale activity.

  • A new wallet withdrew 200,001 SOL valued at $27.87M from Binance, signaling growing long-term demand.
  • US spot Solana ETFs saw a $16.6 million inflow on December 9, totaling $655 million. Bitwise Invest’s BSOL led these inflows.

Liquidity Cycle and Market Dynamics

  • Solana's Realized Profit to Loss Ratio has remained below 1 since mid-November, indicating more losses than gains among holders.
  • The market is entering a fresh liquidity cycle, which could lead to reduced forced selling and clearer market positions.
  • Previous cycles showed price increases following liquidity upturns, suggesting potential future growth.

Potential Price Movement

  • Analyst Ali Martinez observed that Solana's chart resembles Ethereum's previous breakout pattern, targeting a price of $150.
  • SOL is currently trading around $138, down over 17% in the past month, with previous peaks at $294 in January.

Subbd Project Overview

  • Subbd (SUBBD) is gaining traction in the digital subscription space, collaborating with over 2,000 influencers.
  • The platform uses Web3 and AI tools, offering content monetization for creators via an Ethereum-based token, SUBBD.
  • SUBBD token provides access to premium features and rewards, with a presale raising over $1.38 million.