Based

Value

Solana

2024

DeFi

<ul> 
 <li aria-level="1">Solana’s Total Value Locked (TVL) projected to reach $18 billion, driven by expansion in liquid staking tokens.</li> 
 <li aria-level="1">Increased TVL indicates stronger network security and investor appeal, potentially boosting liquidity and DeFi activities.</li> 
</ul> 
Solana’s Total Value Locked (TVL), a metric reflecting the total assets under management, is projected to reach $18 billion, according to recent analyses.&nbsp; 
Analyst, using data from a <a href="https://x.com/martypartymusic/status/1835129736131190815">public tweet</a>, suggested that the liquid staking token sector could expand by five times, contributing to this increase in TVL. 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 Solana Liquid Staking Explosion Incoming: <a href="https://twitter.com/Bybit_Official?ref_src=twsrc%5Etfw">@Bybit_Official</a> Research told Cointelegraph: 
 “In our view, <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a> has a huge potential for liquid staking due to its active staking community. Based on <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a>’s LST market statistics, Solana’s LST market could potentially grow to $18… 
 — MartyParty (@martypartymusic) <a href="https://twitter.com/martypartymusic/status/1835129736131190815?ref_src=twsrc%5Etfw">September 15, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
This projection is supported by the introduction of new liquid staking tokens by platforms such as Binance, Bybit, and Bitget. 
The increase in TVL indicates a strengthening of <a href="https://www.ethnews.com/why-solana-sol-could-outshine-bitcoin-and-ethereum-in-the-next-market-rally/">Solana’s network</a>, making it more secure and potentially more attractive to investors. This development could increase liquidity within the network, facilitating more activities in decentralized finance (DeFi). 
<figure id="attachment_93736" aria-describedby="caption-attachment-93736" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-93736" src="https://www.ethnews.com/wp-content/uploads/2024/09/TVL-SOL-15.jpg" alt="TVL-SOL-15" width="658" height="408">
 <figcaption id="caption-attachment-93736" class="wp-caption-text">
 Source: DeFiLlama
 </figcaption>
</figure> 
The upward trend in TVL indicates growing confidence and participation in Solana’s ecosystem. 
<h2 id="b-markets-for-solana-are-also-influenced-by-whales-b">Markets for Solana are also influenced by whales</h2> 
Data from Coinglass shows a $10 million liquidity pool maintained at a price level of $138, indicating significant backing at this price point. Such investments can help stabilize or increase the asset’s price by locking more funds into the network’s protocols. 
<figure id="attachment_93740" aria-describedby="caption-attachment-93740" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-93740" src="https://www.ethnews.com/wp-content/uploads/2024/09/Binance-SOL_USDT-Liquidation-Heatmap1-week-2024-09-15_14_48_51-2048x1209-1.png" alt="Binance-SOL_USDT-Liquidation-Heatmap1-week-2024-09-15_14_48_51-2048x1209" width="2048" height="1209">
 <figcaption id="caption-attachment-93740" class="wp-caption-text">
 Source: Coinglass
 </figcaption>
</figure> 
Exchange outflows, where investors transfer SOL tokens from exchanges to staking protocols, are further evidence of a growing preference to hold rather than sell the asset. This movement reduces the number of tokens available on exchanges, potentially leading to price increases if demand remains steady. 
<figure id="attachment_93744" aria-describedby="caption-attachment-93744" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-93744" src="https://www.ethnews.com/wp-content/uploads/2024/09/solana-oi-weighted-funding-rate-1.png" alt="solana-oi-weighted-funding-rate" width="1285" height="375">
 <figcaption id="caption-attachment-93744" class="wp-caption-text">
 Source: Coinglass
 </figcaption>
</figure> 
ETHNews technical analysis <a href="https://www.ethnews.com/is-now-the-time-to-buy-solana-analyzing-recent-price-targets-and-market-conditions/">supports these observations</a>, indicating strong market support for SOL prices in the $135 to $138 range. This support aligns with the liquidity pools maintained by large investors. 
The growth in Solana’s TVL, driven by increased liquid staking and substantial backing from large investors, suggests a robust future for the network. The reduction of SOL tokens on exchanges, coupled with a <a href="https://www.ethnews.com/solana-defies-crypto-crash-heres-how-its-winning-while-others-lose/">favorable technical outlook</a>, suggests potential upward movements in price. 

<div class="cryptoboxes" id="mcw-12347" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-chartcoin="SOL" data-chartcurrency="USD" data-chartrate="1.000268" data-charttype="chart" data-chartview="day" data-charttheme="light" data-chartsmooth="true" data-chartareacolor="" data-chartbgcolor=""></div>
</div> 
The current price of Solana (SOL) is $130.89, down 4.84% as of the latest market data. The daily range for Solana is between $130.89 and $131.59. Over the past 52 weeks, Solana has traded between $18.65 and $209.70, indicating considerable volatility. 
<figure id="attachment_93731" aria-describedby="caption-attachment-93731" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-93731 size-full" title="SOL_1D_graph_coinmarketcap" src="https://www.ethnews.com/wp-content/uploads/2024/09/SOL_1D_graph_coinmarketcap.jpeg" alt="SOL_1D_graph_coinmarketcap" width="1200" height="800">
 <figcaption id="caption-attachment-93731" class="wp-caption-text">
 Source: Coinmarketcap
 </figcaption>
</figure> 
Solana’s market cap is approximately $61.28 billion, with a 24-hour trading volume of $1.40 billion. The circulating supply is 468.23 million SOL. 
The post <a href="https://www.ethnews.com/sol-holders-rejoice-massive-outflows-hint-at-price-spike-get-ready/">SOL Holders Rejoice: Massive Outflows Hint at Price Spike—Get Ready!</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

SOL Holders Rejoice: Massive Outflows Hint at Price Spike—Get Ready!

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