Trading volume surged by 75%, the SOL ecosystem is brewing: institutions HODL, will the shorts face a "Christmas liquidation"?
SOL has been steady as a rock in the past 24 hours, slightly fluctuating around $126, with a minor increase of 0.5%. It looks calm, but there are turbulent undercurrents! Trading volume surged by 75% to reach $3.2 billion, and ecosystem activity is at an all-time high. This isn’t stagnant water; this is energy building up!
The real spotlight is on the ETF funding! Despite the overall decline of 39% in Q4, which is considered the worst quarter of 2025, institutions are voting with real money: last week, the net inflow for SOL spot ETFs was $66.55 million, with a cumulative total exceeding $700 million! Products from giants like BlackRock and Bitwise are explosively attracting capital, forming a strong counteracting support force. On-chain data also verifies that this isn’t speculation, as the stablecoin scale within the ecosystem exceeds $17 billion, supporting real demand and usage rates.
The leverage battlefield is even more thrilling! Bulls are quietly accumulating positions, while the upper side is densely packed with shorts. The liquidation heatmap shows that a quick price surge could trigger a short squeeze. Open interest and the number of positions are both increasing, and smart money may be waiting to make a move during the liquidity thin period around Christmas!
The overall market is stagnant with BTC, while SOL shows significant resilience against declines. The DeFi and Meme dual narratives are continuously booming within the ecosystem. The technical outlook is very clear: **$124 is the recent lifeline**, holding above it will maintain strength; once it breaks above $130 with volume, the upside space will be fully opened. There is strong support at $122 below, which can be considered a solid floor.
As we approach the end of the year with fluctuating markets, the institutions' "HODL" logic is exceptionally firm, and the long-term bullish pattern hasn’t changed at all. After this thorough adjustment, SOL’s rebound potential deserves a high regard. In terms of strategy, those with positions should hold steady and not get shaken out; those who haven’t entered can patiently wait for a dip buying opportunity, but be sure to set stop-losses to protect the principal!
#SOL #Solana #ETF流入 #杠杆博弈 #牛市格局