Solana Nears $120 Amid Surging Supply Velocity and Investor Optimism
Solana (SOL) is showing strong signs of recovery as its price approaches $120, fueled by increasing investor confidence and a notable rise in supply velocity. Recent market activity indicates accelerated transaction speeds, suggesting growing network utilization. This development comes after a period of resistance struggles influenced by broader market trends. Below is a detailed analysis of Solana’s current momentum and key metrics driving its upward trajectory.
Solana Price Nears $120 As Supply Distribution Hits Monthly High
Over the last few days, Solana has struggled to break through certain resistance levels affected by broader market trends. However, investor Optimism appears to be driving recent price movements as SOL nears $120. One of the indicators showing promise for Solana’s recovery is its velocity, which has reached a monthly high, signaling that the transaction of supply is accelerating. Amidst recovering price, there’s a noticeable increase in the velocity at which tokens are being transacted, highlighting greater demand. Velocity and price tend to move in tandem, and when both rise together, it’s considered a bullish signal — a trend currently seen with Solana.
Solana Eyes $200 Target As It Gains Momentum
Solana has staged an impressive comeback, rallying over 25% from its recent low of $95 earlier this week. The sharp move followed a major shift in macroeconomic sentiment after US President Donald Trump announced a 90-day pause on reciprocal tariffs for all countries except China. The temporary relief sparked a renewed wave of optimism in financial markets, helping risk-on assets like Solana regain strength after weeks of heavy selling pressure. Top analyst Bluntz shared on X that the recent bounce could be more than just a short-term reaction, noting that Solana’s latest downtrend lasted nearly three months—a duration he believes could mirror the length of the current recovery phase.
Solana’s $110 Test: Bullish Reversal Or Whale-Driven Fade?
Solana has managed to stay above the crucial $110 price mark despite significant sell-offs by big investors. The cryptocurrency is currently trading at $114, marking a daily increase of 7.6% amidst widespread fear in the altcoin market. A whale identified as ’4W1Ree’ unstaked 159,028 SOL tokens worth $16.5 million and sold 60,000 of them for $6.13 million at an average price of $102. Similarly, another whale, ’5cPair’, sold 89,734 SOL tokens worth $9.67 million at $108.
Whale NFT Bridge Goes Live: TON to Solana Migration Launches
Whale.io has officially launched its highly anticipated NFT bridge, seamlessly transporting the iconic Whale NFT collection from the TON blockchain to the Solana blockchain. The migration is now live on bridgemedaddy.com, a dedicated domain facilitating the cross-chain transfer. The collection is now listed on Magic Eden, one of the largest NFT marketplaces on Solana, introducing it to a new blockchain environment with features such as zero gas fees and a range of rarity traits.
Solana Whale Buys $3 Million SOL, Price Jumps 10%
A Solana (SOL) whale purchased $3.72 million worth of SOL after a six-month gap. This whale had previously bought $6.61 million worth of SOL at $216 three years ago and held on even when SOL’s price fell below $10 after the FTX collapse. The whale’s latest purchase coincides with SOL rallying by 10% in the daily charts.
Whale Doubles Down on Solana with $3.72M Purchase
A Solana whale purchased 32,000 SOL tokens worth $3.72 million on April 10th, 2025, at $116.25 each. This purchase came after a six-month absence and indicates the investor’s strong belief in the token’s future development. The whale has a history of confidence in SOL, having previously bought 30,541 SOL tokens for $6.61 million at $216 each three years ago and holding onto them even when the price dropped below $10.
