Solana price falls below $130, but on-chain data points to a bullish trend
For the first time since January 2, Solana dropped below $130 amid a broader downturn in the crypto market. However, whales remain confident and continue accumulating altcoins.
SOL crypto whales are still confident in the asset’s long-term growth prospects and are using the pullback to accumulate more altcoins.
According to Glassnode, since late November 2025, the number of whale addresses holding between 1,000 and 10,000 Solana has increased sharply. These addresses now hold around 48 million SOL, accounting for approximately 9% of the total circulating supply.
The supply of SOL on exchanges is at a two-year low. This metric began declining in late November 2025. Since January 14, the balance of the altcoin on centralized exchanges has fallen by 5 million, reaching 26,058,693 SOL. This level was last seen on January 12, 2023.
Network activity on Solana is showing signs of recovery. The daily number of active addresses over the past seven days has increased by 51%, reaching a six-month high of over 5 million this week (according to Nansen data).
The average daily transaction count rose by 20% over the week and reached 78 million on Tuesday. This level was last observed in mid-August 2025, indicating the network’s scalability and growing adoption.
See also: "Whales Quietly Accumulate 210 Million ADA. How Will This Affect the Altcoin’s Price?"
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