Solana’s Supply Secrets Discovered: What Smart Investors Need to Know! 🎯

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Well now, it appears the good folks over at Glassnode have gone and spilled the beans on some mighty peculiar numbers regarding this here cryptocurrency named Solana. Turns out, there’s a ripe batch of price levels you oughta keep your beady little eyes on. All this wizardry is based on what’s called “on-chain accumulation data,” but I’m just gonna call it a fancy way to figure out where the action’s at. 🔍

Where’s All That SOL Hiding? A Treasure Map of Supply 🗺️

Now Glassnode, in its wisdom—or dark voodoo for all I know—poked around the UTXO Realized Price Distribution (oh yeah, they call it URPD). This URPD gizmo tells us where all those Solana coins were last bought, kinda like tracking down who took the last cookie from grandma’s jar. Naturally, every token’s got its story—the last price it was bought for. That’s the connection here.

For your amusement, here’s what the URPD looked like when Solana hit its fame peak back in January. (Spoiler alert: it ain’t pretty.)

January Solana URPD Chart

Now, hold your horses—what’s all this graph business about? Turns out, certain price levels like $144 were partying hard, hosting large buckets of supply. But when Solana was showing off near its all-time high, there wasn’t much enthusiasm. Coins didn’t change hands like gossipy grannies at a quilting circle.

Here’s where it gets spicy: In this thing called on-chain analysis, price levels with the most supply tend to act like stubborn donkeys—either aiding or resisting market moves. Think of ’em like the neighborhood watch keeping things predictable. Any big ol’ cluster of supply gets investors nervous. They start panic-tweaking their portfolios faster than a squirrel hoarding nuts before winter. 🐿️

Touch a big cluster from above, and folks jump in to rescue their profits like lifeguards saving beach tourists. Give it a nudge from below, and they might bail, fearing a shipwreck. Psychology 101, folks—you gotta love it! 😅

When Solana got absurdly popular at its all-time high, the good ol’ level of support was nowhere to be found. No lifeline—just free-fall city. That’s probably why it keeled over and fell into some safer clusters with supply. Let’s fast-forward: Glassnode’s poking at the URPD again, this time after the price party fizzled out. Here’s the latest chart with fresh heartbreak:

Post-ATH Solana URPD Chart

Well, slap me silly and call me a trader! If Solana keeps tumbling southward, it might have to hitch a ride on the $112 level—a level hosting a solid 9.7 million tokens today (1.67% of all Solana). That’s a whole lotta coins camping there, let me tell ya. Below that, Glassnode mentions “$94, $97, and $100, packing a hearty 21M SOL (3.5% of supply).” Let’s hope those lines don’t crumble, or Solana could be sailing rudderless until it crashes into the lonely $53 level. Good grief! 🚢⚓

Looking above, $135 and $144 are like two cranky landlords guarding their turf—they hold 26.6 million and 27 million coins, respectively. Solana’s gotta fight tooth and nail to climb back over these hurdles, and I don’t envy it one bit. 🙄

What’s The Price Tag On Solana Today? 💰

For now, Solana decided to cheer up a little. It rose over 5% in the last 24 hours, trotting back to the $130 level. Guess it’s feeling frisky again. Here’s what the market graph looks like:

Solana Market Price Chart

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2025-03-20 13:17