What would you do if you knew 425,266 Solana coins had been unstaked? If you’re hearing the news for the first time, you’ll be shocked too.
This is a great investment opportunity for altcoin investors.
Notably, blockchain analytics brand Onchain Lens posted on 4th Apr that 425,266 Solana worth about $49.78 million have been unstaked. Till 2028, there will be no other big scheduled unlocks of staked Solana coins.
Updates From Arkham Intelligence
Arkham Intelligence quotes that the addresses accountable for the unlock staked the SOL funds back in Apr 2021. Back then, Solana was trading at a significant low.
But the current price suggests that since 2021, Solana’s price has increased 5.5 times. So, it is more likely that Solana investors are finally up to making profits.
Solana’s Position till Now
The crypto market has been keeping Solana in check. In the last 7 days, Solana’s price fell 7%. A big margin without doubt! At one point, the price was $112.24, putting the coin at a critical 12-month support level.
However, institutional investors are still keeping their faith in the coin. The reason behind the same is the strong fundamentals of Solana.
The Long-term Growth
The total value of Solana was locked since Nov 2024. But the same value has recently grown twofold. The current value is 53 million SOL. But the prime concern remains the decentralized finance activity around the coin. From January to March the volume dropped by $200 billion.
Price Projection Now!
After testing the support level of $114.34, Solana has finally reached a value of $118.55. The investors expect that the next level would be $143.25. However, there is one issue. The current relative strength index (43.6) suggests Solana is still in the neutral to oversold range. If the buying pressure improves, the coin would be back to the bullish domain.
