Candlestick charts have never been just a pile of rigid numbers; they represent retail investors' hopes, the strategies of big players, and various market secrets. Today’s SOL is like a suspenseful script.

This morning, when opening the market dashboard, SOL was fluctuating around $121, repeating that "sideways consolidation that tortures traders" rhythm. But if you only focus on the candlesticks, you’ll miss the key point—what is actually happening beneath the surface, even though SOL appears calm on the surface?

The most noteworthy event just happened: Circle directly transferred 500 million USDC to the Solana chain. This is no small move. Imagine, USDC is like the "real liquidity" on the chain, and an injection of this magnitude means that projects within the SOL ecosystem that need funding now have a reservoir of capital. Recently, at the Breakpoint conference, Figure announced plans to launch native stock products on Solana, and Kamino is building a fixed-rate lending module—these are all money-attracting applications. What is currently missing? Liquidity. The injection of 500 million USDC from Circle is like a strong shot of adrenaline for the entire ecosystem. Honestly, retail investors can’t pull off this level of operation; it’s definitely orchestrated by institutions behind the scenes.

Looking at on-chain movements, a whale-level address fired on all cylinders this morning, adding a long position of 210,000 SOL in one go, investing a real 25 million USD. Now, this whale holds SOL worth about 740 million USD. Even if there’s a short-term unrealized loss, such a position wouldn’t be easily sold.