$SOL

Market Condition

• SOL is trading at $228.28 (+1.92%), with a market capitalization of $121.24 billion, ranking 185th globally and 6th among cryptocurrencies

• Surpassed MercadoLibre's valuation, demonstrating the integration of cryptocurrencies into traditional finance

• The circulating supply is 542 million tokens with a decrease in trading volume despite the price increase

Growth Factors

• Institutional Confidence: Galaxy Digital purchased $326 million worth of SOL for Multicoin Capital

• Ecosystem Expansion: The total value locked in DeFi reached a record high of $12.52 billion, indicating strong user adoption

• Altcoin Season Indicator at 76 (the highest since December 2024), boosting the performance of alternative assets

• The registration of SOL ETF with DTCC indicates potential inflows from institutions

Risk Factors

• Security concerns after the exploitation of SwissBorg's API (193,000 SOL stolen)

• Whale Activity: 527,590 SOL deposited on exchanges, indicating potential selling pressure