Solana (SOL) is back in the spotlight, this time amid a shift in investor sentiment. Analyst Ali Martinez reports 1.077 million SOL withdrawn from exchanges in 72 hours, often a sign of long-term holding and rising confidence in Solana despite recent volatility.
Source: Ali MartinezSolana faces a market setback as SOL drops below $100 for the first time since 2024, now trading near $85. The decline raises concerns about the broader crypto market, hitting high-profile altcoins that were once buoyed by network upgrades and rising DeFi adoption.
Solana Faces Short-Term Dip but $2,000 Target by 2030 Still in the Picture
Despite the recent dip, Standard Chartered remains bullish on Solana, projecting it could hit $2,000 by 2030. The bank cites Solana’s scalable blockchain, low fees, and robust developer ecosystem as key drivers for long-term growth.
What’s the takeaway? Well, the crypto market remains volatile, but long-term optimism persists. Large withdrawals, such as 1.077 million SOL in three days, often signal holding, not panic, and historically precede price rebounds when market conditions improve.
Despite short-term volatility, Solana’s recent withdrawals and strong long-term forecasts reflect cautious investor positioning alongside enduring confidence in the project’s potential.
Source: https://zycrypto.com/over-1-million-sol-pulled-from-exchanges-as-standard-chartered-still-calls-2000-solana-price-by-2030/
