13 May 2025
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Solana Network Sees 11 Million Wallets Holding 0.1 SOL or More
Solana has risen over 22% since last Thursday, reaching a local high of $181 before consolidating below that level. The broader crypto market's bullish momentum, driven by Bitcoin nearing all-time highs and Ethereum breaking resistance levels, supports this rally. On-chain data from Glassnode indicates significant growth in Solana’s user base, with wallets holding 0.1 SOL or more increasing to 11.04 million in two weeks.
Key points include:
- Solana is testing the $181 resistance zone after a strong rally.
- Maintaining support in the $170–$175 range is crucial for sustaining upward momentum.
- The macroeconomic environment poses risks, but investor sentiment is improving.
- On-chain data shows growing retail interest and user engagement.
- Volume remains healthy; bulls need to hold the $170–$172 range for a potential breakout above $181.
- A failure to maintain this support could lead to a correction toward $160–$165.
If bullish momentum continues and macro conditions stabilize, Solana may be positioned for further gains, potentially targeting $200. Traders will monitor the $181 level closely for signs of breakout or rejection.