In the past week, some large holders and institutions have staked 2.5 million SOL (worth over 500 million USD) on-chain, equivalent to 'locking up' their assets and not selling, indicating their confidence in future market trends.
Currently, 13 institutions have established their own SOL treasuries, holding a total of 8.27 million SOL, accounting for 1.44% of the total supply. Some institutions are even increasing their positions, and most have not reduced their holdings, suggesting a generally positive outlook from institutions towards SOL.
A small portion has been unlocked, with a whale transferring 110,000 SOL (approximately 23.5 million USD) from staking to an exchange, which may be sold. However, compared to the previously locked 2.5 million SOL, this amount is relatively small and has limited impact.
In the long term, this is positive as it indicates continued investment and asset locking, showing that large funds have confidence in SOL, especially with a high probability of ETF approval.
In the short term, there may be some selling pressure, which could cause slight fluctuations, but it is unlikely to change the overall upward trend.
Most people are buckling their seatbelts for a long journey, while a small portion are getting off to cash out a bit, which does not affect the advancement of the majority.
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