More than 439 million $SOL tokens are currently staked on-chain. Nearly 70% of the circulating supply would rather hold on to a 6.36% annualized yield than sell—this has provided a very thick cushion under the order book.
Even more unusual is the appetite from off-exchange institutions. While the broader market hedged and crypto ETFs saw an overall net outflow of more than $70 million in a single week, funds still surged one-directionally into funds related to $SOL . The week saw $60.7 million dumped in, marking the 12th consecutive week of net inflows.
On one side, 70% of the supply is voluntarily locked up from within. On the other, external institutions ignore the panic and keep buying for three consecutive months. The buying sentiment is far stronger than the actual sell-pressure from the amount of tokens that can be released. This token structure—truly backed by real cash— is the hardest basis for my bullish outlook.
#SOL
Even more unusual is the appetite from off-exchange institutions. While the broader market hedged and crypto ETFs saw an overall net outflow of more than $70 million in a single week, funds still surged one-directionally into funds related to $SOL . The week saw $60.7 million dumped in, marking the 12th consecutive week of net inflows.
On one side, 70% of the supply is voluntarily locked up from within. On the other, external institutions ignore the panic and keep buying for three consecutive months. The buying sentiment is far stronger than the actual sell-pressure from the amount of tokens that can be released. This token structure—truly backed by real cash— is the hardest basis for my bullish outlook.
#SOL