Kraken Whales Fuel Solana’s Rally: $200 Target in Sight as Institutional Confidence Grows

Solana (SOL) has staged an impressive 50% rebound from recent lows, with analysts now eyeing the $200 price target by the end of May 2025. This surge is being driven by significant whale activity, particularly on the Kraken exchange, where three new wallets withdrew a staggering 145,000 SOL (worth $21.8 million) within hours. On-chain data confirms a strong accumulation trend among large investors, signaling growing institutional confidence in Solana’s potential. Such withdrawals typically indicate bullish expectations for the asset’s performance, and the $200 threshold is now seen as a key psychological and technical milestone. As of May 11, 2025, Solana’s price action and whale movements suggest a sustained upward trajectory, with Kraken serving as a focal point for institutional accumulation.

Solana Price Eyes $200 After 50% Rebound, Whale Accumulation

Solana (SOL) has surged 50% from recent lows, with analysts targeting $200 by May’s end. Whale activity underscores growing institutional confidence, as three new wallets withdrew 145,000 SOL ($21.8M) from Kraken in hours.

On-chain data reveals a clear accumulation trend among large investors. Such withdrawals typically signal bullish expectations for asset performance. The $200 threshold now serves as a key psychological and technical benchmark.

Pump.fun Transfers $22M in SOL to Kraken in Routine Revenue Move

Meme coin launchpad Pump.fun has moved 132,000 SOL ($22.88 million) to Kraken, marking its weekly revenue processing cycle. On-chain data reveals this transaction follows a established pattern for the Solana-based platform, which routinely consolidates and transfers fee revenue to exchanges.

Analyst EmberCN notes Pump.fun has sold 3.868 million SOL to date, with these transfers occurring every 1-2 weeks. The consistent FLOW underscores the platform’s robust activity in Solana’s meme coin ecosystem, where it serves as a key liquidity conduit.