SOL On-Chain Chip Distribution Scan (January 8 - January 9)

In recent market movements, SOL's on-chain turnover data has shown a significant change. The total turnover in the past 24 hours reached over 12 million tokens, compared to 3.5 million during the same period yesterday. This doubling indicates that market activity is rapidly increasing, and participation has indeed strengthened.

From a chip perspective, short-term holders' chips continue to shift right within the $120-$129 range, indicating that these retail investors have not given up. More notably, the $135 price point has accumulated over 40 million tokens, making it a critical support or resistance level.

When chip concentration is so high, it usually signifies strong market recognition of this price zone. In the short term, SOL's movement around this area will largely depend on the actions of these large chip holders—whether they break through or hold steady could trigger chain reactions. On-chain sentiment remains worth continuous observation.