A 8.5% surge, with the 24-hour trading volume reaching 3.89 million. The move by $SOL isn’t retail pushing it. I watched the order book all morning—at the low of 107.94, the price was踩得干干净净 (cleanly swept), then it was directly lifted to around 118. This isn’t painting a gate; it’s clearly someone accumulating and taking inventory. I haven’t gone through the on-chain data in detail, but community sentiment has obviously shifted from last week’s “$SOL is going to die” to “can it still get on board?” The face-turn is faster than turning a book page. Reasonably speaking, the fundamentals of the $SOL chain haven’t actually collapsed; the activity level is right there. This move looks more like capital returning after an oversold period. The fee rate hasn’t reached the extreme greed zone yet, which suggests leverage hasn’t been maxed out—actually a good sign. But don’t rush to call a reversal. The 118 level is the dense trapped-capital zone from earlier. Whether it can hold depends on tonight’s volume—whether it can follow through.

$SOL #行情分析 #on-chain data