Citing Glassnode data via analyst Murphy, SOL holdings on centralized exchanges have plummeted from 37.22M to 27.01M since March 2025—a massive 27.4% decline! 📉 This brings balances close to the October 2022 low, a key recovery period post-FTX collapse.
🔍 What’s Happening?
• 💪 HODLing Strong: Investors may be moving SOL to self-custody or staking, signaling long-term confidence in Solana’s ecosystem.
• 📈 Less Selling Pressure: Lower exchange balances could mean reduced selling, potentially boosting price stability or growth.
• ⚠️ Volatility Watch: Less liquidity might spark bigger price swings—keep an eye out!
• 🌐 Ecosystem Growth: Solana’s DeFi and NFT activity is thriving, likely pulling SOL off exchanges (per Glassnode’s Q2 2025 report).
• 🧠 Market Context: Similar trends in Bitcoin suggest bullish holder behavior, but macro factors like tariffs could sway sentiment.
⚡ What’s Next? Track on-chain metrics and Solana’s ecosystem for clues! Always DYOR—don’t rely solely on this post for trading decisions.