Solana Price Rises 8% Amid Strong Whale Activity and Market Optimism
Solana has seen an 8% price increase in the last 24 hours, reaching $217. This surge accompanies a 52% rise in daily trading volume, totaling $7 billion, and extends weekly gains to over 12%. Open interest for Solana has risen by 9% to $6.77 billion, while 24-hour liquidations reached $15.7 million, with $9.21 million from short positions.
Key Highlights
- Price target set at $330 after strong support bounce from $180.
- Whale activity includes acquiring 11,824 SOL for 2.49 million USDC and withdrawing 18,527 SOL valued at $3.94 million from Binance.
- Whale deposited 144,817 SOL into Kamino and borrowed $20 million in stablecoins.
- JPMorgan analysts predict Solana ETF could attract $3-6 billion, potentially pushing SOL price toward $500-$750.
The overall market sentiment is optimistic following recent Bitcoin price movements, surpassing its critical resistance of $102K.