$SOL
The next meaningful move in SOL-USD is being dictated more by existing holders than by a new wave of speculative inflows. On-chain money-flow indicators show that the Chaikin Money Flow for Solana has turned sharply higher over recent days but remains below the zero line, which indicates that the intense outflows of the prior leg down are slowing while inflows have not yet taken control. That combination points to a stabilization phase where capital is no longer rushing out but is not yet aggressively rotating back in. At the same time, the number of new Solana addresses has fallen from about 6.077 million to 5.390 million over roughly ten days, an 11.3% drop that highlights weaker fresh participation. With fewer new wallets and less speculative traffic, the burden shifts to current holders: if they continue to accumulate on dips and refuse to sell lows, CMF will likely move back above zero and confidence will gradually rebuild, but if they use every bounce to exit, price will remain stuck in a heavy distribution phase with limited upside follow-through.