Ethereum Sees Record Outflows, Signaling Growing Confidence & Potential for Price Gains

Over 2.2 million SOL tokens exited crypto exchanges in May, signaling a shift towards accumulation and bolstering confidence, particularly at the $200 price mark. The surge is attributed to expanding DeFi applications and growing institutional investments within the Solana ecosystem. This trend coincides with a rise in stablecoin activity on the network, highlighting its role as a robust platform for fast and low-cost transactions. Solana’s futures market shows increasing trader interest, with open interest levels surging after a notable influx of SOL traded on CME.