According to Milk Road, Solana attracted more new developers than any other blockchain in 2024, signaling strong ecosystem growth and increased potential for innovative decentralized applications. This influx of developer talent is likely to enhance Solana’s infrastructure and support new DeFi and NFT projects, providing bullish signals for SOL trading activity. Market participants may interpret this development as a strengthening of Solana’s competitive position versus Ethereum and other Layer-1 blockchains, potentially impacting SOL price volatility and market share in the coming quarters (source: @MilkRoadDaily on Twitter, May 25, 2025).

According to Mihir (@RhythmicAnalyst) on Twitter, Solana (SOL) price action throughout its bull run has been consistently supported by a single major trendline, identified as the white line. The latest chart analysis shows SOL is currently in a recovery phase, rebounding from recent lows while staying above this crucial support. This trendline is a key technical indicator for traders; sustained price action above this level may signal continued bullish momentum, while a breakdown could indicate trend reversal. Traders are advised to monitor SOL’s interaction with this support for actionable entry and exit points (source: Mihir via Twitter, May 2, 2025).

According to glassnode, despite recent strong rebounds in the crypto market, short-term hot capital for Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Ripple (XRP) remains significantly below their respective cycle highs. Specifically, BTC hot capital is down $60.5B or 60.8%, ETH is down $6.6B or 60.3%, SOL is down $5.9B or 38.4%, and XRP is down $5.5B or 71.7%. This suggests that while price recoveries have occurred, trader capital allocations remain cautious, potentially limiting short-term upside momentum and increasing volatility risk. Traders should closely monitor capital flows for signals of renewed bullish conviction. (Source: glassnode, Twitter, April 29, 2025)

According to AltcoinGordon, major Bitcoin investor Michael Saylor has purchased an additional $1.42 billion worth of Bitcoin, signaling continued institutional accumulation in the current market cycle (source: AltcoinGordon on Twitter, April 28, 2025). Simultaneously, retail investors are increasing exposure to Solana (SOL), as illustrated by AltcoinGordon's own $142 purchase. These moves suggest that both BTC and SOL are experiencing renewed buying pressure from whales and retail participants, which could impact short-term price momentum and liquidity for active traders.