Solana Price Rallies Over 50% in Two Weeks Driven by Coinbase Buying and Bullish Price Targets
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Solana's SOL price has rallied over 50% in two weeks, with Coinbase being a significant source of buying pressure based on volume data tracked by Kaiko.
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Coinbase's cumulative volume delta for SOL has increased by nearly $1 million since Oct. 25, indicating net inflows.
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Median order size on Coinbase has been larger than other exchanges, potentially signaling institutional buyers.
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Coinbase's SOL leadership comes after a VanEck report detailed a bullish $3,200 price target for SOL by 2030.
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Despite price gains, on-chain activity metrics like total value locked in DeFi have declined to the lowest since April 2021.