Solana: A key technical level defended thanks to USDC flows
While many watch Bitcoin and Ether, Solana is playing a much subtler role. The SOL cryptocurrency remains above $120, driven by a massive increase in liquidity and on-chain supply. However, trader demand remains surprisingly weak. And as long as this gap persists, Solana's structural advantage will not be fully reflected in its price.
In brief
Solana sees how its on-chain flows change, with a massive influx of USDC and a strong contraction in the supply of SOL.
Key levels of $120, $135, and $142 are now structuring the market, while demand for derivatives remains limited.
The resetting of PnL and the decrease in speculation indicate a reaccumulation zone, but the return of buyers will be essential to reactivate the trend.
A massive influx of stablecoins and a contracting supply of SOL cryptocurrencies
Binance is experiencing a decline in its cryptocurrency reserves, while stablecoin inflows reach record levels. Inflows of USDC have exceeded $2.120 billion, while more than $1.110 billion in SOL has left the platform. In other words, the liquidity of stablecoins increases just as the supply of SOL on the order books decreases. For a cryptocurrency, this type of setup reveals the first signs of a supply shortage: capital is accumulating anticipating the launch, while the number of tokens available for immediate sale decreases.
In this type of setup, stablecoins act as readily available ammunition. When USDC flows concentrate in an ecosystem like Solana, it usually indicates that institutional investors or whales are positioning themselves, but have not yet explicitly pressed the buy button.
$SOON
