Solana (SOL) has been in the news over the past few weeks, albeit for different reasons. The popular altcoin was one of many that influenced Donald Trump's presidential victory, changed so far +67.69% compared to yesterday after November 5th to reach a new period of $263.
However, this price increase is followed by a gradual correction changed so far +15.13% compared to yesterday. Although recent data on investor behavior shows great optimism in the market for the fifth largest digital currency.
Solana's 'New' Investors Live on Bullish Futures
In the X post on December 13, Blockchain analytics firm Glassnode shared an insightful report on Solana's investor activity a few weeks ago. According to Glassnode, Solana investors who entered the market 1-2 years ago have now unloaded large portions of their holdings.
The analyst team explains that those investors may have bought Solana during its 2021 bull run and have now taken profits during the November price rally, reducing the share their market share from 48% in June to below 5% now.
While a drop in long-term holdings can sometimes cast doubt on an asset's future potential, Glassnode believes that these recent sales are simply activity by most investors who ' look to sell ahead of the next bull run now exiting the market.
Importantly, this selling pressure has been largely absorbed by new Solana investors in the past 6-12 months who increased their market holdings to 24% during Solana's most recent price increase . Such a large investment at rising price levels reflects confidence among new holders in Solana's long-term profitability despite the current price depression.
VanEck predicts that SOL will reach $500 in Q1 2025
In other news, prominent asset manager VanEck has dropped a strong forecast for Solana through 2025. the latest look at digital assetsHead of Digital Assets Research Matthew Sigel, and Senior Investment Analyst Patrick Bush have forecast the general crypto market to maintain its bullish form going into the new year.
On that note, the digital asset will reach its first market peak in Q1 2025 with Bitcoin attaining a price of $180,000. During this rally, Solana is expected to trade at $500, indicating a potential gain of 124.21% over the asset's current price.
However, VanEck analysts warn that this rise will likely be followed by Bitcoin experiencing a 30% price retracement while altcoins include Solana's record decline of around 60% as the market goes into consolidation this summer.
At the time of writing, Solana continues to trade at $227 reflecting a gain of 0.34% over the past day. At the same time, the trading volume of the asset is down 14.28% and the value is at $4.12 billion.
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