<ul><li>Solana's price action has been impacted by the bearish market, with the altcoin struggling to maintain key support levels after a bullish period.</li><li>A significant surge in Coin Days Destroyed on Solana indicates a movement of long-held coins, possibly signaling profit-taking or strategic realignment by investors.</li><li>Coin Days Destroyed for Solana year-to-date reached around 3.55 billion SOL, marking the third-largest spike this year, suggesting a shift in holders’ conviction.</li><li>Despite the increase in Coin Days Destroyed, Solana's network fundamentals remain strong with high network activity, including a large number of active addresses and transactions processed daily.</li></ul>

Solana Sees Another Large Spike In Coin Days Destroyed, Could A Price Shift Be Next?

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