No recent news or events related to SOL

Solana (SOL) has experienced continued upward momentum, currently trading at $180.74 with a daily increase of $1.61 and a 25.64% gain over the past week. The token maintains a strong market position as the 5th largest cryptocurrency, with a circulating supply of 519.32 million SOL, daily trading volume of $9.29 billion, and market capitalization estimates ranging from $81.18 billion to $91.58 billion.

Recent price movements are attributed to several key developments. Notably, 132,000 SOL was transferred from the Pump.fun protocol to Kraken, and the FTX bankruptcy estate unstaked 187,600 SOL, which created some uncertainty regarding potential selling pressure. Despite this, technical analysis indicates ongoing bullish momentum, supported by a broader positive trend in the crypto market and Bitcoin’s recent gains. Solana’s price briefly reached an intraday high of $179 before facing resistance, and the overall trend remains positive, with strong trading activity and investor interest driving recent gains.