Why $129 Has Become the New Magnet for Solana Buyers

• Over 32M SOL were accumulated around $129.79, forming the largest supply cluster in just two days.
• Institutional players like Janover and PayPal are increasingly backing the network’s long-term infrastructure growth.

Currently, many investors are starting to pay serious attention to the $129.79 price level for Solana (SOL). Not without reason—the latest data from Glassnode shows that more than 32 million SOL changed hands at that price, making it the zone with the largest supply concentration in the last few days. This means that this level has the potential to be a strong support if the price comes under pressure again.

Interestingly, this cost basis shift occurred in just the last two days. Rapid changes like this are usually a sign that many market players—both individuals and institutions—are making major repositionings. Just imagine if you were buying at this price range, you could say that you entered a large circle of buyers who have high expectations for Solana’s future.

Source: GlassNode## When Giants Move, Solana Moves With Them

Furthermore, optimism towards Solana does not only come from the retail community. On the other hand, CNF has reported that Janover invested $4.6 million in SOL. They even plan to run a validator as part of a long-term strategy to strengthen the company’s cash flow. This is no small thing, because it shows a serious commitment to network infrastructure.

Still from the institutional scene, Solana has managed to capture the attention of major players such as PayPal and Citibank. The endorsement of these two titans boosts Solana’s position not only in the crypto space, but also in the traditional financial sector. This combination makes SOL much more difficult to ignore.

Not stopping there, Canada is preparing to launch the world’s first Solana spot ETF. This product not only offers direct exposure to SOL, but also provides a staking feature through Purpose Investments’ internal validator infrastructure. The potential? Clearly tempting, especially for investors who are chasing extra returns.

New Features Aim to Raise the Bar on User Protection

If you think Solana only excels in terms of market adoption, wait a minute. They’ve also just launched the ‘Confidential Balances’ feature on the mainnet. With this feature, users can send and receive tokens without having to expose their balances to the public. This approach is clearly an uplifting moment, especially in an era where privacy is increasingly being questioned.

However, despite the surge in interest and widespread support, the current price of SOL has corrected 4.12% in the last 24 hours and is around $125.44. But don’t panic too soon—SOL is still up about 18% in the past week, with a market cap of about $64.78 billion. Given the momentum and the foundation it’s building, many believe Solana is positioning itself for its next move.

Recommended for you: