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Solana maintains strong bullish outlook as long-term holders become optimistic

Solana’s price peaks and retraces: Solana peaked at over 263.00 USD in November but has since seen retracement. Despite this, long-term holders continue to adopt a bullish outlook, indicating a strong belief in its future performance.

Shift in holder dynamics: Recent data reveals that selling pressure is largely from one-to-two-year holders, who have diminished from 48% in June to under 5%. Meanwhile, new investors, particularly in the six to twelve-month category, now hold 27% of Solana’s total supply.

Developer interest and DEX performance: Solana has surpassed Ethereum in decentralized exchange volume for 10 consecutive weeks and has attracted 7,625 new developers in 2024, overtaking Ethereum’s 6,456, highlighting its growing appeal in the blockchain space.

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