Solana Network Activity Grows As 11M Wallets Now Hold 0.1 SOL Or More – Analyst
Solana has increased over 22% since last Thursday, driven by bullish trends in the crypto market, with Bitcoin nearing all-time highs and Ethereum surpassing resistance levels. The price reached a local high of $181 but is currently consolidating below this mark, seeking support for further upward movement. On-chain data indicates significant growth in Solana's user base, with wallets holding 0.1 SOL or more rising to 11.04 million in two weeks, reflecting increased adoption and interest in altcoins. Maintaining support above $170–$175 is crucial for sustaining momentum and potentially reaching $200. Despite macroeconomic uncertainties, the crypto market is recovering, and Solana's performance suggests it may be entering a larger bullish phase. Analyst insights highlight the importance of user engagement and technical momentum for future price movements. The focus remains on whether Solana can break the $181 resistance or requires more time to strengthen before advancing.
