NewsBTC

6 June 2025

2 0

Solana Sees Spike in Coin Days Destroyed as Dormant Coins Move

On-chain data indicates significant movement of dormant coins on the Solana network.

Key Points

• Glassnode reports a spike in the Coin Days Destroyed (CDD) indicator for Solana.
• A 'coin day' accumulates when a token remains inactive for one day; moving it resets its counter to zero.
• The recent spike destroyed 3.55 billion coin days, suggesting transaction activity among long-term holders (LTHs).
• This is only the third significant spike in 2025, with previous spikes recorded at 5.53 billion and 4.64 billion coin days.
• LTH movements may indicate potential selling pressure and could affect Solana's price.

Solana is currently trading at $153.9, down over 10% in the past week.