Kraken Sees Significant Solana Inflows as Whales Unload Holdings

Solana (SOL) is experiencing heightened selling pressure as major investors, including a whale and an FTX/Alameda-linked wallet, unwind their positions following its recent price surge. On May 12, 2025, a whale dumped 103,040 SOL ($17.7 million), while an FTX/Alameda-associated wallet unstaked 187,625 SOL ($32.24 million). Additionally, Pump.fun, a Solana-based launchpad, transferred 132,000 SOL to Kraken, signaling a liquidity exit. These coordinated moves suggest profit-taking by smart money despite Solana’s strong network fundamentals. The activity has sparked fears of a broader sell-off, with Kraken emerging as a key platform for these large transactions. The market is now closely watching whether this trend will continue or if Solana’s underlying strength will mitigate the downward pressure.

Whale Moves Spark Sell-Off Fears for Solana Amid Price Surge

Solana faces heightened selling pressure as major investors unwind positions following its recent rally. On May 12, 2025, a whale dumped 103,040 SOL ($17.7M) while an FTX/Alameda-linked wallet unstaked 187,625 SOL ($32.24M). Pump.fun, a Solana-based launchpad, moved 132,000 SOL to Kraken—a clear liquidity exit signal.

These coordinated withdrawals reveal profit-taking by smart money despite Solana’s strong network fundamentals. The actions mirror historical patterns where early backers distribute holdings during price peaks, often preceding short-term corrections.

XRP Reclaims Third-Largest Crypto Spot Amid Broad Market Rally

XRP surged 10% to $2.57, overtaking Tether with a $151 billion market cap as Bitcoin and ethereum also posted gains. The token’s rally coincides with renewed institutional interest, including public commentary from Kraken exchange.

The broader crypto market saw Bitcoin breach $105,700 and Ethereum reach $2,625, pushing total capitalization to $3.28 trillion - a level unseen since February 2025. Kraken’s social media post speculating about new all-time highs for XRP signals growing platform confidence following its 2023 relisting.