Solana: Retail Buying Booms While Institutional Flows Lag

Despite a lack of institutional investment, Solana’s retail investor base shows growing optimism. Over 4.13 million SOL were withdrawn from exchanges recently by retail investors, indicating confidence in the cryptocurrency’s future. This comes despite the project facing technical resistance around $160, potentially hindering broader market expansion. 2023 has seen a rise in retail activity while institutional backing remains subdued. The Solana ecosystem continues to focus on network upgrades and DeFi improvement, led by Anatoly Yakovenko. While no recent official announcements have been made, the project maintains momentum with its strategic direction.