Investor and trader sentiment around Solana ($SOL) has soared to a 9-month high, with a strong bullish outlook reflected across social media platforms.
For every bearish post on X, Reddit, Telegram, 4Chan, and BitcoinTalk, there are 5.6 bullish ones, showcasing the renewed optimism around the #5 ranked cryptocurrency by market cap.
🤯 Updating our Solana post from Friday, SOL traders and investors have now pushed the positive sentiment of the #5 market cap coin to a 9-month high. There are currently 5.6 bullish posts for every 1 bearish post across X, Reddit, Telegram, 4Chan, and BitcoinTalk. https://t.co/0U2fEf4ygu pic.twitter.com/unpIst6aXJ
— Santiment (@santimentfeed) October 13, 2024
Several key developments have contributed to this surge in sentiment. Notably, six Solana-based DeFi projects have crossed the $1 billion mark in Total Value Locked (TVL), helping Solana reclaim an impressive $6 billion in TVL overall.
🚨BREAKING: Six @Solana DeFi projects cross $1B each as Solana reclaims $6B in TVL pic.twitter.com/n2Lv7vpruQ
— SolanaFloor (@SolanaFloor) October 15, 2024
Additionally, over 154,000 new tokens were created on the Solana network in the past seven days, with a significant portion being memecoins, further illustrating the blockchain’s growing ecosystem.
🚨 REPORT: Over 154K new tokens were created on @Solana in the last 7 days, mostly memecoins. pic.twitter.com/0F0NQI6Wuh
— SolanaFloor (@SolanaFloor) October 15, 2024
Solana And Institutional Transfers And Movements
On the institutional front, FTX/Alameda’s SOL staking address (H4y…gFZ) redeemed 178,631 SOL (approximately $28 million) just four hours ago.
Based on past patterns, these tokens are likely to be distributed to multiple addresses, with most eventually flowing into exchanges like Coinbase or Binance.
FTX/Alameda’s transfers have followed a consistent trend, with around 170,000 SOL redeemed and transferred out between the 12th and 15th of each month.
FTX/Alameda 的 SOL 质押地址 H4y…gFZ 在 4 小时前赎回了 178,631 枚 SOL ($28M)。
根据此前的转移记录，这些 SOL 随后会分发至多个地址，其中大部分会在后续流入 Coinbase 或 Binance。他们的 SOL 转移目前比较规律：会在每个月 12-15 号时赎回并转出 17 万枚左右的 SOL。
而目前 H4y…gFZ… https://t.co/lofeYFnFwx pic.twitter.com/4eF00PrFn4— 余烬 (@EmberCN) October 15, 2024
Despite these recent redemptions, the H4y…gFZ address still holds a substantial amount of SOL—around 7.09 million tokens, valued at roughly $1.107 billion—currently staked.
As Solana continues to see positive momentum across both DeFi and token creation, alongside institutional activity, the network appears well-positioned for sustained growth, with sentiment indicating strong market confidence in the weeks ahead.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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