Solana logged 609,000 active trading wallets in July, the highest count in seven months. The surge across retail and institutional users signals renewed confidence in the network, even as SOL trades near $73.
Bitwise's BSOL fund now holds nearly $892 million in SOL and has captured almost 80% of all Solana ETF inflows. Every new share issued by the fund means fresh SOL purchases, potentially driving continued accumulation among institutional players who prefer regulated exposure.
On-chain activity and institutional demand typically reinforce each other. More wallets trading means tighter liquidity spreads. More ETF money means large buyers defending key price levels. SOL is currently holding a significant support zone around $73, with analysts watching whether buyers can push the token back above $78.
This article is for informational purposes and does not constitute financial advice. Cryptocurrency markets are volatile and past performance does not guarantee future results.
