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SOL Breaks $90: ETF Inflows, Whale Moves & the $97 Resistance Test
Audio is available on Spreaker — see link below.
SOL surged past $90 on May 9th, liquidating $21M in shorts and triggering four consecutive days of ETF inflows — but DEX volumes are falling. Here's what the on-chain data actually says about whether this rally has legs.
Audio is available on Spreaker — see link below.
SOL broke above ninety dollars on May ninth, liquidating twenty-one million in short positions. That's more than Bitcoin's sixteen million on the same day.
Institutional signals are aligning with that price move. SOL ETF products recorded four consecutive days of net inflows, with May sixth hitting the highest single-day inflow since January fourteenth.
Then there's the stablecoin signal. Circle minted two hundred and fifty million USDC on Solana on May ninth, the same day as the breakout.
On the other end of the ecosystem, AURA, a low-cap Solana token, ran a hundred and sixty-four percent in twenty-four hours, reaching a thirty-four-point-four million dollar market cap with trading volume exceeding that cap. That's retail speculation running hot.
The technical question now is whether ninety dollars becomes a floor or just a level that got crossed. The next real test is ninety-seven dollars and forty cents.
On the infrastructure side, the Solana Foundation launched the Alpenglow testnet cluster this week, inviting validators to evaluate new consensus mechanics and reshaped economics before any mainnet deployment. Agave v4.0 is already showing measurable bandwidth reductions in early production, which translates to real operational cost savings for node operators.
The macro backdrop adds one more layer. Jerome Powell is being replaced by Kevin Warsh this month.
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