Solana Price Eyes $147 Amid Record SOL Staking Surge

Key Insights:

• Solana price in focus as SOL staking activity has reached a record high of 425.7 million SOL.
• The inflows of institutions are also not that weak, and Solana acquired $92.9 million in January.
• Long-term holders are accumulating more SOL and laying the foundation for a potential price surge to $147.

Solana (SOL) price has been performing positively following recent statistics of record staking and a massive increase in holders.

The price of Solana is at the moment trading around $125.0. However, numerous analysts are looking forward to a possible SOL price run to $147.

Meanwhile, the memecoin industry has also gone on a boom in Solana, fueling speculation about the coin. Memecoins like DOGE and PENGU have been more active on the blockchain.

This, together with the growth of liquid staking and DeFi transactions, is giving Solana (SOL) price the push it needs to keep growing in its upward trend.

Staking Activity Signals Confidence in Solana Price Strength

Among the main causes of the bullishness of Solana is the increase in the number of staked tokens. The number of staked SOL has reached a high of 425.7 million SOL, the biggest in the history of the network, which shows that more investors are putting money into it.

This is a great success in Solana since it is currently controlling more than 68.9% of the supply in circulation.

The levels of staking are on the rise, not only due to retail demand, but also institutional interest in Solana (SOL) is growing.

Interestingly, approximately 15.64% of the staked tokens are stuck in liquid staking platforms, whereby users can retain their involvement in the decentralized finance (DeFi) and receive staking rewards.

This is a trend that increases the utility of Solana as a whole, in that even when tokens are staked in DeFi, they can actively be used on the blockchain, resulting in a continuous flow of transactions.

SOL Price: Institutional Demand and Long-Term Holder Support

Besides retail involvement, institutional interest in Solana price is also on the increase. The network also saw inflows totaling $92.9 million in January, making SOL the second most popular institutional investment asset.

On-chain data also indicate a change in the behavior of long-term holders, which also contributes to the optimistic vision of the Solana price.

According to the HODL Waves information, the Solana supply that has stayed with long-term investors is increasing, in particular, those in the 3-6 months holding category.

The proportion of this group to the total supply has increased from 21% to 24%. It indicates that these investors are not placing sell orders on the investment since they are expecting it to appreciate in the future.

This behavior change in terms of holding behavior lowers selling pressure, and the Solana (SOL) price is stable.

Momentum Indicators Suggest a Bullish Turn for Solana Price

The Solana price is stuck in a range, and the bottom has been drawn at the low of $120.0. Nevertheless, the momentum indicators are indicating that there is a relief in the selling pressure.

The MACD and RSI momentum indicators indicate that an upward trend in SOL price can be expected shortly. The RSI is rising steadily at 56, while the MACD has crossed the overbought region.

Analysts believe that a Solana price push beyond the $125 support zone could trigger a rally toward the $147 target. The recent retreat of SOL price from $240 is considered a healthy correction, which gives a buyer an opportunity to amass SOL at low prices.