Solana (SOL) traders are witnessing rising volatility as a surge in whale exercise indicators lethal promoting strain out there. Regardless of a robust rally above $250 earlier in September, market sentiment seems to be shifting, with whale deposits into centralized exchanges hinting at potential headwinds forward. Most just lately, a staggering 312,233 SOL tokens had been deposited into Coinbase, fueling considerations that whales could also be positioning for vital profit-taking.
Solana Whale Deposits Sign Rising Promoting Strain
Blockchain tracker Whale Alert reported one of many largest Solana transfers in latest weeks, with 312,233 SOL valued at roughly $75.1 million, moved from an unknown pockets to Coinbase Institutional on September 21. The scale and timing of this large-scale switch instantly raised considerations that whales might be positioned to promote.
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Earlier than this switch, Whale Alert had flagged one other large transaction of 227,928 SOL, value round $54.5 million, being funneled into Coinbase on the identical day. Collectively, these two deposits symbolize greater than $129 million in Solana doubtlessly at stake of being offered off.
The implications of such strikes are vital, as massive holders sometimes ship tokens to exchanges with the intention to promote, in the end including appreciable downward strain to the market. Notably, Solana’s value rally in September has been fueled by robust demand; nevertheless, these latest transfers increase the danger of oversupply, significantly because the token hovers round $224. If whales observe by with the promoting, it may cap SOL’s bullish breakout try and power the worth again to decrease help zones.
Apparently, this isn’t the primary time Solana has confronted comparable whale-driven headwinds this month. Simply over per week in the past, blockchain analytics platform Lookonchain reported a number of whale dumpings into varied crypto exchanges. A pockets tagged “CMJiHu” deposited 96,996 SOL ($17.45 million) into Coinbase, whereas “5PjMxa” moved 91,890 SOL ($15.98 million) to Kraken. The identical day, one other pockets “HiN7sS” transferred 37,658 SOL ($6.73 million) to Binance, securing a revenue of $1.63 million. These earlier transfers, mixed with the most recent inflows, present a sample of whales steadily decreasing their publicity as market sentiment shifts.
SOL Momentum Weakens Underneath Heavy Promoting
Crypto analysts now view Solana as being at a pivotal crossroad, the place robust fundamentals conflict with mounting promoting strain and technical dangers. Market professional Tom Tucker notes that SOL has climbed greater than 150% in 2025, however its rally is displaying indicators of fatigue. The analyst’s chart reveals a rising wedge formation, usually a precursor to a breakdown, mixed with weakening momentum indicators.
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The Relative Energy Index (RSI) is narrowing right into a triangle, suggesting indecision, whereas the MACD has flattened after months of energy. This setup, when paired with heavy whale deposits into exchanges and rising promote strain, underscores the rising chance of a short-term pullback.
But, the outlook shouldn’t be fully bearish. Tucker factors to optimism surrounding a possible Solana ETF, the upcoming Alpenglow improve, and regular treasury accumulation as basic drivers that might lengthen SOL’s long-term development.
Featured picture from iStock, chart from Tradingview.com