The leader of this bull market cycle, Solana ($SOL), has been relatively quiet for a while, but recent developments suggest big players might be gearing up for action.
Nine hours ago, a new wallet, identified as Eh2TE…HyzEYq, withdrew 125,990 SOL from Binance.
The total haul, valued at $24.02 million, was acquired at an average cost of $190.8 per token. This wallet, now holding a total of 125,999 SOL, signals potential strategic accumulation.
After hitting its all-time high of $263 in November, Solana has faced significant price fluctuations, with analysts forecasting a possible dip to $167 by the end of December. Some even speculate that it could slide further, reaching as low as $162.
Despite these bearish predictions, many crypto experts remain optimistic about Solana’s long-term potential. They believe the blockchain platform still has the momentum to reclaim its previous highs and even surpass them, with projections suggesting it could soar to $500 in 2025.
The market has entered what analysts are calling a “decision time” for Solana. The coming weeks will determine whether the token will bounce back or continue its downward trend. For investors, this could be a pivotal moment—whether to accumulate or hold tight and watch the market evolve.
One thing is certain: Solana’s strong fundamentals and network growth keep it in the spotlight, making it a cryptocurrency to monitor closely as the year wraps up.
Disclosure: This is not trading or investment advice. Always do your research before buying any Metaverse crypto coins.