[Analysis: During SOL's pullback, the main entry cost was above $144, with minimal trapped positions above] BlockBeats reported on September 7 that on-chain data analyst Murphy released an analysis of SOL's token distribution structure. As shown in the chart, SOL's token distribution roughly exhibits an olive-shaped structure, with significant accumulation in the middle and relatively less at both ends. Centered around the current price of $203, within the upper 20% price range (i.e., $203 to $242), the accumulated SOL accounts for 7% of the total circulation; within the lower -20% price range (i.e., $162 to $203), the accumulated SOL accounts for 39.2% of the circulating tokens. If SOL's price continues to rise in the future, since there are minimal trapped positions above, the primary selling pressure will likely come from profit-taking by holders of tokens accumulated in the lower range. Through recent repeated fluctuations, SOL has seen significant turnover in the -20% price range, raising the average cost for all participants. Therefore, theoretically, selling pressure will not be substantial when a certain level of floating profit appears. The last large-volume bar on the URPD chart is at $144, suggesting that the main entry cost during the pullback was likely at least above $144. If the expected profit margin is not met, these SOL tokens are unlikely to be sold in a hurry. This analysis is for educational and discussion purposes only and does not constitute investment advice.