Matrixport: Solana whales are shifting their profit funds to BTC, while the meme coin market is cooling down

2025-02-07 16:10:41

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ChainCatcher news, Matrixport's latest report indicates that the number of wallets holding over 10,000 SOL has significantly decreased in the past two months, suggesting that large holders are taking profits. Meanwhile, the enthusiasm for meme coins is cooling down. Data from the Pump.fun platform shows that the daily issuance of meme coins has dropped by 16% over the past 30 days, and daily trading volume has significantly retreated from the peak of 71,738 transactions recorded on January 23.

The report notes that the price of Trump meme coin plummeted from $60 to $20, severely undermining retail investor confidence. Although the price of Raydium (RAY) has recently increased, early Solana investors are shifting their profits into Bitcoin. This rotation of funds explains why Bitcoin remains relatively resilient despite the general pullback in altcoins. Additionally, although Ethereum reduced transaction fees in March 2024, it has failed to gain a significant advantage in the current meme coin trend due to user experience and cost issues.

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