TLDR
- Solana blockchain adds WisdomTree’s tokenized funds as the $152 billion asset manager expands platform access
- Network transactions climbed to 2.1 billion over 30 days while active addresses reached 90 million
- Total staked SOL tokens hit an all-time high of 425.7 million, controlling nearly 69% of circulating supply
- January saw $92.9 million in institutional inflows and $111 million in Solana ETF deposits
- Technical charts show SOL forming a double-bottom at $117 with analysts eyeing $147 and $200 price levels
Solana is trading near $125 after dropping from $255 in September. The blockchain has seen a 50% decline but is showing early recovery signals.
WisdomTree decided to expand its tokenized fund offerings to Solana. The asset manager oversees $152 billion across its platforms.
Clients will access these tokenized products via WisdomTree Connect and WisdomTree Prime. The move puts Solana alongside other blockchains offering real-world asset tokenization.
The network currently hosts $2.5 billion in real-world assets. Tokenized stocks on Solana total $1.6 billion, making it the leading chain in this category.
BlackRock, Ondo, and VanEck previously brought their tokenized offerings to Solana. WisdomTree becomes the latest major institution to embrace the platform.
Rising Network Metrics Support Price Recovery
Daily transactions on Solana increased by 22% reaching 2.1 billion over the past month. The platform recorded 90 million active addresses, up 52% in the same timeframe.
These figures surpass Ethereum’s 14.5 million active addresses and 66 million transactions. Solana continues to lead in raw network activity metrics.
Developers plan to roll out the Alpenglow upgrade soon. The update will push transaction capacity beyond 100,000 per second.
Spot ETF products for Solana attracted $111 million this month. The Bitwise SOL ETF alone holds $711 million in total assets.
Institutional buyers added $92.9 million in January. This makes Solana the second most popular digital asset for institutional allocations.
Staking Data Shows Growing Investor Commitment
The amount of staked SOL reached 425.7 million tokens. This equals 68.9% of all tokens in circulation.
Liquid staking platforms hold 15.64% of these staked tokens. Users can earn staking rewards while participating in DeFi activities.
On-chain data reveals long-term holders are accumulating. The 3-6 month holding bracket increased from 21% to 24% of supply.
This shift reduces selling pressure on the market. Holders appear confident in future price appreciation.
Chart Patterns Suggest Upside Potential
The price chart displays a double-bottom formation at $117. This pattern typically signals a bullish reversal after a downtrend.
The neckline for this pattern sits at $150. A break above this level could confirm the reversal.
SOL trades near the 78.6% Fibonacci Retracement level. The RSI indicator reads 56 and is climbing steadily.
The MACD indicator crossed into positive territory recently. Both momentum indicators suggest weakening downward pressure.
Technical analysts see $147 as the first major target. The longer-term goal sits at $200, representing a 60% gain from current prices.
The memecoin sector on Solana has also expanded. Tokens like DOGE and PENGU drive additional blockchain activity and transaction volume.
