Solana Surges 14% Amid Rising Network Demand

Solana (SOL) has experienced a significant 14% increase in the past 24 hours, breaking out of a four-week consolidation phase to trade around $90.5, surpassing the $88 support level. According to NS3.AI, the Solana network has seen a 17% rise in daily new addresses over the last two weeks, increasing from 7.42 million to 8.7 million, indicating growing demand. Despite this positive trend, whale holdings of over 100,000 SOL have slightly decreased. Maintaining a position above $88 could potentially lead to a price movement towards $97–$105, whereas a drop below this level might weaken the bullish outlook.