Solana Rally Faces Scrutiny as Long-Term Holders Dump Tokens Amidst Weekly Gains

Despite a 19% weekly price increase that has propelled Solana to $230, long-term investors are selling at levels not seen since early March. This selling pressure highlights concerns about the cryptocurrency’s ability to sustain its gains as network activity slows down. Analysts point out that declining new address creation (a six-month low) indicates a lack of fresh capital inflows and suggests that Solana may struggle to attract new users, potentially hindering future growth.