January 30 News, although Solana’s price has attempted multiple rebounds but remains under pressure, on-chain data has released positive signals. Recently, approximately 10.2 million new wallet addresses completing their first transaction are added daily on the network, indicating that the number of Solana holders is rapidly increasing. This type of address expansion usually represents new user entry and also suggests that potential buying interest is absorbing market selling pressure.
Previously, the news of Telegram CEO Pavel Durov’s release briefly boosted related ecosystem sentiment, but SOL failed to sustain the rally, reflecting that the current larger influencing factors come from macro risk appetite rather than the project itself. Nevertheless, historical experience shows that holder expansion during downturns often lays the foundation for subsequent price stabilization.
Meanwhile, funding remains a constraint. After continuous net inflows for several days, Solana spot ETF experienced a single-day outflow of about $2.2 million for the first time. Since ETF investors typically focus on medium to long-term allocations, this change is seen as a cautious signal that may limit short-term price upside.
From a technical perspective, SOL is currently oscillating around $115 and is in a descending wedge pattern. This pattern is often viewed as a potential reversal signal; as long as the support level is not broken, the bullish logic remains valid. If the price can break through the key resistance at $123, subsequent targets may point to the $132 and $136 regions.
Conversely, if the rebound is weak and the price falls below $115, SOL could drop to $110. Once this level is broken, the pattern will be invalidated, and the risk of a pullback will significantly increase. At this stage, on-chain growth and capital flow are in a tug-of-war, and whether SOL can truly initiate a rebound still depends on whether buying interest continues to follow through.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
$285M Solana Disaster – Here’s What Actually Happened
On April 1, 2026, things fell apart on Solana (SOL). Drift Protocol got hit with a $285 million exploit, and within hours, its token crashed hard. The impact didn’t stop there, it quickly spread to other connected protocols.
This breakdown is based on reporting and analysis from Coin Bureau wi
CaptainAltcoin23m ago
Solana ecosystem DEX Stabble urges LPs to withdraw funds after discovering that a former employee is a North Korean–national developer
Solana decentralized exchange Stabble issues an emergency notice urging liquidity providers to withdraw funds due to a security risk involving a former North Korean employee. The warning was disclosed by on-chain investigator ZachXBT, in the context of a U.S. warning about the infiltration of North Korean technical personnel. Stabble emphasizes that no attack has happened yet and will conduct a new security audit.
GateNews34m ago
Yesterday, the U.S. SOL spot ETF had net outflows of $15.4020 million
April 7, SOL spot ETF net outflows totaled $15.4020 million, including $13.3409 million outflows from the Bitwise Solana Staking ETF and $1.8222 million outflows from the Grayscale Solana Trust. Currently, the total net asset value of SOL spot ETFs is $776 million.
GateNews35m ago
