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.

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.

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.

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.

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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