Solana’s Rally Faces Headwinds as Long-Term Holders Take Profits
Solana's SOL token experienced a notable 9% surge this week, aligning with a broader recovery in the cryptocurrency market. However, blockchain data from Glassnode indicates a shift in investor behavior, with long-term holders beginning to cash in their gains. Specifically, wallets holding SOL for 1-2 years saw their share drop from 20.33% to 18.48%, while those holding for 3-6 months declined from 12.7% to 11.55%. This profit-taking trend among conviction investors often signals potential market caution ahead. Despite the recent price rally, the weakening demand from long-term holders could pose challenges for Solana's sustained growth. As of November 2025, the cryptocurrency community is closely monitoring these developments to gauge whether this is a temporary pullback or the start of a broader trend.
Solana Holders Cash In Amid 9% Rally as Demand Weakens
Solana's SOL token surged nearly 9% this week, mirroring a broader crypto market recovery. Yet beneath the surface, blockchain data reveals concerning trends as long-term investors begin offloading holdings.
Glassnode metrics show wallets holding SOL for 1-2 years reduced their share from 20.33% to 18.48%, while 3-6 month holders dropped from 12.7% to 11.55%. This profit-taking behavior among conviction investors typically precedes short-term cooling periods.
Retail traders appear equally cautious, with many choosing to realize gains rather than reinvest. The Chaikin Money FLOW indicator's brief positive turn on October 27 quickly reversed, suggesting institutional players remain sidelined.
Solana Price Holds Above $180 as Traders Eye a Breakout Toward $200
Solana (SOL) is testing key resistance levels as bullish momentum builds, with traders speculating on a potential push toward $200. The cryptocurrency currently trades NEAR $186, down 2.34% in the past 24 hours amid broader market volatility.
Network activity and institutional flows remain strong, with growing DeFi and NFT adoption providing fundamental support. Technical indicators suggest a decisive breakout could be imminent, though failure to breach $250 resistance has emboldened bears.
Exchange volumes have dipped while open interest in futures contracts declines, signaling cautious market participation. The next few trading sessions will likely determine whether Solana's rally has staying power or faces a reversal.
Solana ETFs See Strong Early Inflows as Institutional Adoption Grows
U.S. spot solana ETFs have recorded robust inflows in their initial days of trading, signaling growing institutional interest in the blockchain platform. Grayscale and Bitwise both reported significant activity, with their funds listed on NYSE Arca and Nasdaq providing investors streamlined exposure to SOL.
Bitwise's BSOL ETF notched $25 million in trading volume by midday on its third day, with assets under management reaching $315 million. The fund aims to stake 100% of its holdings, passing rewards directly to investors. Its fee structure includes a 0.20% management fee waived for the first three months on assets up to $1 billion.
Grayscale's GSOL ETF recorded $780,500 in net inflows during full trading hours, with net assets totaling $96.19 million. The fund's market price stood at $12.99 at time of reporting, with total trading value reaching $6.59 million.
Solana (SOL) Faces Resistance, Yet Maintains Upward Momentum
Solana (SOL) has encountered a significant resistance level, leading to a 6.3% decline over the past week, according to CoinMarketCap. Despite this pullback, the cryptocurrency remains supported by a 7-month ascending trendline, suggesting underlying strength.
Market analysts are eyeing the $192 horizontal support level, which has held firm during the recent reversal. The asset's ability to maintain this level could signal a potential rebound. However, traders are cautioned to consider broader market trends and key technical levels for a clearer picture.
Short-term volatility, particularly visible on the 4-hour chart, may obscure the larger trend. Momentum indicators hint at a possible bullish shift if SOL sustains above the ascending trendline.
How Solana Maintains Low Transaction Fees Through Innovative Consensus
Solana's ability to keep transaction fees remarkably low has become a key attraction for crypto investors, overshadowing even its price volatility. The network achieves this efficiency through its unique Proof-of-History (PoH) consensus mechanism, which timestamps transactions to establish order without constant verification.
Unlike proof-of-work or proof-of-stake systems that struggle with network congestion, Solana's architecture enables high throughput of thousands of transactions per second. This technical advantage positions Solana as a competitive alternative to Ethereum, particularly for users sensitive to gas fees.
Sam Bankman-Fried Claims FTX Was Solvent, Blames Lawyers for Collapse
Sam Bankman-Fried, the convicted founder of FTX, has penned a 15-page report from prison challenging the widely accepted narrative of the exchange's collapse. Dated September 30, the document asserts that FTX was never insolvent but instead faced a liquidity crisis when customers withdrew $5 billion over two days in November 2022.
Bankman-Fried claims FTX and Alameda Research held $25 billion in assets with $16 billion in equity against $13 billion in liabilities—enough to repay customers in full. He blames outside counsel and CEO John J. RAY III for prematurely pushing the exchange into Chapter 11 bankruptcy, alleging rescue financing was imminent.
The report reframes FTX's demise as a preventable bank run rather than a fraud-driven implosion. This revisionist account, if accepted, could soften fraud allegations by shifting blame to legal advisors who froze operations. Notably absent is any reckoning with the exchange's commingling of funds or risk management failures.
