- Sol has captured a notable part of the stablecoin offer in the last 24 hours as interest increases.
- The accumulation on the cash market has increased in the last five days, indicating an increase in market interest in assets.
Despite his recent downward trend during the week and last months, Solana (soil) remained relatively stable in the last 24 hours as the feeling changes, slightly lowering 1.05%.
The growth of the stablecoin supply and the accumulation of soil investors are clear indications for a bullish feeling in force on the market.
The supply and accumulation of Solana in search of Solana increases
There has been a significant increase in the total supply of stablescoins on Solana in the last 24 hours. At the time of writing $ 106.8 million in stablecoins were added to the network, indicating an increase in soil demand.
This could be for various purposes, in particular the development in protocols or development activities.
Source: Artemis
Feelings like these tend to positively reflect the price, the asset is gradually going up. However, it would require more fundamental catalysts for a significant Momentum rally.
The cash market traders have regularly accumulated the soil in the last five days. Currently, these merchants have bought more than $ 100 million in ground, the largest purchase taking place on March 28, when $ 89 million was purchased.
Source: Coringlass
The cash traders have transferred their ground accumulated in private wallets, signaling long -term outfit and a reduction in market offer.
The transaction activity has also increased, indicating an increased commitment to the network. Between March 24 and now, the total number of transactions increased from 87.6 million to 92.7 million, reflecting a strong presence of trader.
Source: Artemis
Given the significant accumulation of spot traders and the relatively stable soil price range, commercial activity seems to have a positive impact on price movements.
Long bets are increasing in the term markets and options
In the derivative market, interest increases as indicators show that traders place long bets in anticipation of a rally.
The number of unstable derivative contracts, called open interests (OOs), has increased on the term markets and options.
At the time of writing the editorial staff, OI on the term market increased by 1.69%, reaching $ 4.70 billion. Similarly, the OPO on the options market jumped 16.19%, climbing $ 3.3 million.
This increase, combined with an increase of 21.15% in the volume of overall market trading to $ 11.25 billion, reflects an increasing activity.
The data suggest that long traders lead this momentum, anticipating an increase in soil price.
Source: Coringlass
The thermal liquidation card, which identifies the areas of un -filled orders, indicates that a potential price movement could occur in both directions.
The sections highlighted from the graphic in green and yellow suggest liquidity at these levels, which tends to attract pricing movements.
With the bullish feeling of the market – in particular the growth of the ETINE and the accumulation of cash merchants – SOL is likely to move upwards, with the potential to recover the region of $ 130.
