Despite the crypto market correction, institutional entities are accumulating significant amounts of SOL, with reserves exceeding $4.6 billion. This trend could redefine Solana's position within the blockchain ecosystem, potentially influencing its future trajectory.
Blockchain expert Ted Pillows has shared figures demonstrating growing institutional confidence in Solana. Corporate entities now hold 20.13 million SOL, valued at $4.6 billion. This accumulation represents 3.53% of the total circulating supply of the altcoin, a significant percentage that highlights the scale of this phenomenon.
This impressive amount is distributed among just 20 corporate entities, revealing a strategic concentration of institutional capital. This situation differs from traditional accumulation patterns, where reserves are dispersed among hundreds of players. The observed concentration suggests that major players are establishing significant positions, likely anticipating future network appreciation.
These reserves originate from several sources: Protocol revenue generated by on-chain activity, validation rewards from the Proof-of-Stake network, and donations from the ecosystem. This diversification of incoming flows strengthens the project’s long-term financial sustainability. Analysts believe that the upcoming approval of a Solana ETF with staking mechanisms could further catalyze these institutional inflows.
Beyond institutional reserves, Solana’s on-chain activity demonstrates its operational vitality. The network recently took first place in terms of revenue generated by decentralized applications and trading volumes on DEXs, temporarily dethroning Ethereum and leading layer-2 solutions.
According to SolanaFloor data, the blockchain recorded $4.67 million in DApp revenue in a single day, outperforming Ethereum and Hyperliquid in this key metric. Simultaneously, decentralized exchanges on Solana processed $4.87 million in volume, placing the network ahead of Ethereum and Binance Smart Chain during this period.
These performances reflect concrete adoption by users and developers. Solana’s low transaction costs and execution speed continue to attract DeFi protocols, NFT platforms, and gaming applications. This sustained activity generates fees that directly feed the protocol’s reserves, creating a virtuous cycle between usage and capitalization.
Technical analysis reveals SOL positioned at a critical level. The $195 zone currently constitutes an important psychological support, tested multiple times since early April. Rejection at this level could trigger a downward acceleration towards $180-185, a confluence zone with the 50-day moving average.
However, several indicators counterbalance this risk. Daily trading volume jumped by more than 21% during the last session, demonstrating sustained trader interest despite the correction. This volume increase occurring during a consolidation phase suggests that buyers are beginning to position themselves, anticipating a technical rebound.
Market sentiment is gradually evolving towards a neutral-bullish zone according to funding rates metrics and open interest on futures. Investors are particularly monitoring the $200 threshold, where a recovery would confirm the resumption of bullish momentum in the short term.
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