CandleFocus Solana investors HODL amid bullish expectations: Glassnode
2024-12-13
Author: Content Editor
Long-term holders of Solana (SOL) are increasingly bullish despite the recent decline in price. Glassnode reports that selling pressure has come from holders from the previous bull market who sold their holdings during this year's rally. However, current investors are becoming hodlers as they anticipate higher prices. On-chain metrics show that new holders who entered the market during the 2024 crypto rally have increased their positions. Additionally, Solana has been dominating decentralized exchange volumes, surpassing Ethereum in market share for 10 consecutive weeks. The platform has also attracted more developers than Ethereum in 2024.
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