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The crypto market is focusing on the potential rise of the Layer-1 platform Solana 
$164 (SOL). According to analyst Ali Martinez, the upward pattern in Solana’s trading channel indicates significant potential. If it maintains its current support level, the price of SOL could reach $387, reflecting a 92% increase. This movement is reportedly supported by technical indicators.
Increased On-Chain Activity in Solana
There has been a notable increase in on-chain activities on the Solana network. The creation of over 5 million new addresses daily suggests a rapid rise in network adoption. Experts emphasize that this activity has the potential to enhance Solana’s market value.
Ali Martinez notes that maintaining the current support level might positively affect Solana’s price movements. The support level at the lower boundary of the parallel trading channel could trigger an upward breakout. Martinez believes the rapid increase in network activity supports this possibility, with over 5 million new addresses created daily, indicating significant investor interest.
70,000 BTC Withdrawn from Exchanges Raises Attention
Amid Solana’s analysis, notable developments have also occurred in Bitcoin 
$106,052. Over 70,000 Bitcoins were withdrawn from exchanges in the past week, showcasing long-term confidence from investors. Ali Martinez states that this movement could positively influence the overall market situation, with Bitcoin trading around $96,932.
The outflow of funds from Bitcoin may indicate that investors are shifting towards long-term storage, away from risks. The data from both Solana and Bitcoin provides significant insights for investors seeking to gauge market trends.
