Solana News: Significant Stake by Cryptocurrency Whale Signals Market Confidence

A major cryptocurrency whale has withdrawn nearly $30 million worth of Solana (SOL) from Binance and staked most of it, indicating strong market confidence in the digital asset. This move has led to a surge in SOL's price, with technical indicators pointing towards a bullish trend.

Solana Whale Stakes $29.87M, Signaling Strong Market Confidence

A significant cryptocurrency whale has withdrawn 174,767 SOL, worth nearly $29.87 million, from Binance over four days and staked the majority of it for rewards. This move has been interpreted as a strong signal of market confidence in Solana. Following the withdrawal, SOL's price surged 3.2% to $173.50, with technical indicators such as RSI and MACD suggesting a bullish trend. Additionally, on-chain data revealed a 15% increase in active addresses and a 2% rise in total staked supply to 72%.

Solana Price Poised for Recovery as Key Support Holds—Can SOL Reach $200?

Despite recent market turbulence, SOL’s resilience at key support levels, along with its expanding DeFi ecosystem and growing institutional interest, indicates a bullish outlook. Investors are closely monitoring whether this momentum can drive a sustained price breakout. After a sharp decline, Solana’s price has stabilized around the $170 support level, which had served as a reversal point in the past. This pullback suggests a potential double-bottom structure, often followed by strong price bounces. If Solana maintains the $170 level, it could rally to above $200.

Solana ETF Faces Key Deadline as Approval Hopes Rise

The U.S. Securities and Exchange Commission (SEC) is currently reviewing multiple filings for a Solana ETF, with decisions expected within 240 days. Analysts have raised hopes for approval, believing it could propel Solana to new price highs.

Solana (SOL) Versus Base Protocol (BASE) and Remittix's (RTX) Role in the PayFi Space

As 2025 begins, crypto investors are on the lookout for profitable projects. Solana (SOL) and Base Protocol (BASE) emerge as two strong contenders with solid technical backgrounds and intense competition. Meanwhile, Remittix (RTX) shines in the PayFi domain, addressing inefficiencies in the $190 trillion global payments industry. Solana appears to have an edge over Base Protocol due to its more robust technical infrastructure.