Solana Wallets Soar Past 11M as SOL Battles to Break $177 Barrier

By: cryptofrontnews|2025/05/15 18:15:05

The number of Solana wallets holding 0.1 SOL has surged to over 11 million, indicating rising network participation.SOL is at $176.87, retesting the key resistance at $177.23 with the short-term support noted at $167.32.Price momentum is modest despite growing adoption, suggesting a cautious market outlook ahead of macroeconomic events.The Solana (SOL) wallet addresses with at least 0.1 SOL have broken another milestone with 11.04 million recorded on May 11, 2025, based on the recent Glassnode stats. This is a notable increase in user involvement over the past two weeks, which indicates cumulative growth of networking activity during benign price action.SOL’s market price was currently at $176.87, which represents a 0.3% growth over the past 24 hours. At $177.23, the price is currently touching upon a key resistance level, whereas support level holds at $167.32.Retail Wallets Surge, But Price Lags BehindThe spike in the wallet addresses holding 0.1 SOL or more hints at increasing retail-level interest in Solana. From late April to mid-May, such wallets increased exponentially with a spike taking place between May 7 and May 9. May 11 saw the overall count of these addresses rise to an all-time high of 11,043,694.https://twitter.com/ali_charts/status/1922171251826499706While address count on its own does not necessarily mean more transaction activity or long-term holding, it usually indicates a broader adoption of the network. Analysts observe that this metric, if it starts to move up alongside price, could be a sign of improving fundamentals. However, price growth has been relatively subdued relative to wallet numbers growth.SOL Price Nears Resistance as Momentum SlowsSolana is currently trading near the top of its recent 24-hour range, with the highest point at $177.23. This is an important resistance level as SOL has failed to hold momentum above this price point in the recent rally. A successful breakout could pave the way for a retest of $180 and potentially higher levels if volume supports the move.Despite the positive trend in the price, the overall trend is cautious. The 0.3% price hike in the last 24 hours and the 0.6% price jump against BTC indicate a minimal potential in the short-term movement. Market watchers are now eyeing whether SOL can sustain pressure above the $167.32 support level in case of a pullback.SOL Tests Resistance Amid Mixed SignalsSolana’s price action remains reflective of the rest of the crypto market, where there is still conflicting investor sentiment amid approaching macroeconomic data. The rise in wallet addresses may provide some long-term hope, but short-term flows will likely be driven by SOL’s ability to break and sustain above its current resistance zone. For now, the adoption metrics for the network look strong, but price validation is unclear. Additional confirmation would be required before proposing a continued bullish momentum.The post Solana Wallets Soar Past 11M as SOL Battles to Break $177 Barrier appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.

The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.

Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.

Simplified Trading Experience: No KYC Required, Opening a Position in Five Steps

Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.

The trading process has been streamlined into five steps:

· Choose the trading asset

· Select long or short

· Input position size and leverage

· Confirm order details

· Confirm and open the position

The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.

Social-Native Trading: Strategy and Execution Completed in the Same Context

Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:

· End-to-end encrypted private groups supporting up to 1024 members

· End-to-end encrypted voice communication

· One-click position sharing

· One-click trade copying

On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.

By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.

Referral Mechanism: Non-institutional users can receive up to 60% fee split

Mixin has also introduced a referral incentive system based on trading behavior:

· Users can join with an invite code

· Up to 60% of trading fees as referral rewards

· Incentive mechanism designed for long-term, sustainable earnings

This model aims to drive user-driven network expansion and organic growth.

Self-Custody Architecture and Built-in Privacy Mechanism

Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:

· Separation of transaction account and asset storage

· User full control over assets

· Platform does not custody user funds

· Built-in privacy mechanisms to reduce data exposure

The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.

A New Path for On-Chain Derivatives

Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.

The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.

Regulatory Background

Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.

This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."

The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.

About Mixin

Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.

Its core capabilities include:

· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations

· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets

· Decentralization: achieving full user control over assets without relying on custodial intermediaries

· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication

Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.

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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.