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New data from market analytics firm Glassnode reveals that traders are keeping their Solana (SOL) stacks amid expectations that its price will continue to rise. In a new thread on the social media platform X, Glassnode says that long-term holders now own a significant supply of SOL, believing that Solana’s bullish phase is far from over. “Solana investors are HODL-ing (holding on for dear life) firm, expecting higher prices. Long-term holders’ share of wealth locked in the network is growing. The 6-12 month cohort now holds 27% of the supply, showing conviction from 2024 rally buyers.” Source: Glassnode/X But the data analytics firm notes that investors who accumulated SOL toward the end of the 2022 market cycle have massively unloaded their holdings. According to Glassnode, the distribution of the 2022 investor cohort suggests that selling pressure for SOL is now weak. “Meanwhile, the 1-2 year cohort has steadily diminished, dropp...

BitMEX founder and crypto veteran Arthur Hayes is laying out bullish outlooks for Bitcoin (BTC), Dogecoin (DOGE) and the broader digital asset market cycle. In a new discussion on the Alpha Only podcast, Hayes says traditional finance (TradFi) firms could be what triggers froth and a subsequent collapse in crypto valuations. Hayes says TradFi will see crypto going up, and end up allocating through the big companies and projects. But as the market cycle continues and many projects become overvalued, Hayes says the investors will most likely begin to chase less legitimate projects, creating massive gaps between price and reality. “ And so in the beginning, the credit is well allocated, there are good uses for it. But as we get longer in the tooth for the rally, then you start allocating credit to dogsh*t because you have to allocate to get paid and that’s when you find, whatever the hottest pocket is where you see way too much money going into it, they...