Solana’s Old Hands Are Moving—Is Trouble Brewing?
Summary
The Solana network has experienced a significant movement of dormant coins, indicated by a spike in the "Coin Days Destroyed" (CDD) metric. CDD measures the total number of coin days reset when tokens are moved, reflecting transaction activity from long-term holders (LTHs). Recently, the CDD saw a spike involving the destruction of 3.55 billion coin days, suggesting LTHs engaged in transactions. This trend is notable as it may indicate a shift in holder conviction, potentially impacting Solana's price. Previous larger spikes occurred in February and March 2025, with the current CDD spike raising questions about future movements. Solana's price is currently around $153.9, down over 10% in the past week.
