Major TWAP Alert Signals Bullish Surge

The Solana blockchain is seeing increased trading activity on major exchanges such as Coinbase, Binance, Gate.io, and OKX. look A closer look at the trading patterns shows that large buyers are accumulating SOL, signaling a potential bullish trend for the cryptocurrency. Coinact.gg, a platform that tracks real-time trading analytics, discovered the alert, dubbed a Major TWAP for Solana. [Time-Weighted Average Price].

Large TWAP detection alert on SOL. Large buyers accumulating SOL. Trading patterns have emerged on Coinbase, Binance, Gate_io, okx. SOL markets in the last 15 minutes: Coinbase, Binance, Gate, Okx: Automated orders on Binance equate to $6,559,941.60 in hourly buying.

The alert means that large amounts of SOL were purchased in an automated fashion, spreading out the purchases over time with little impact on price from large buy orders. Currently, roughly $6.5 million worth of SOL is being purchased per hour. This movement highlights the growing interest in altcoins among large investors.

Solana

TWAP strategies are often initiated by prominent investors such as financial institutions, who spread large orders over a specific period of time to minimize market impact. The detection of such large-scale TWAP activity suggests that these players are strategically increasing their SOL holdings in anticipation of future price increases.

Coinbase, Binance, Gate.io and OKX executed trading patterns with automated orders, but trading behavior on Binance was marked with a red indicator compared to other exchanges. This discrepancy may indicate different market strategies or conditions specific to Binance.

Solana surges 17% on hopes of upcoming ETF approval

This comes amid growing interest in the Solana Blockchain due to the emergence of a SOL-focused exchange-traded fund. [ETFs] The launch date is gradually approaching, with the final decision deadline expected to be around mid-March 2025. According to a report by Tron Weekly, the Chicago Board Options Exchange [CBOE] On July 8, VanEck and 21Shares filed an application to list a proposed ETF, sparking interest and speculation in the cryptocurrency market.

The optimism surrounding the Spot SOL ETF has made traders and investors bullish, as data shows major altcoins are recording double-digit growth. [17%] It recovered to the $140 level in just two days.

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