Solana News: Significant Price Drop and Whale Activity Spark Market Concerns

In recent news, the Solana (SOL) blockchain’s native token has experienced a notable price decrease, accompanied by significant whale activity. Here’s a closer look at the developments and their potential impact on SOL’s future.

Time to Sell Solana (SOL)? Whales Unstake Millions Amid Price Drop

SOL, the native token of the Solana blockchain, has seen a significant price drop of over 20% in the past 24 hours and is currently trading NEAR $137. A crypto whale who has been holding SOL since it was trading at $43 has unstaked 79,530 SOL tokens worth $10.39 million. This whale had previously withdrawn nearly 200,000 SOL tokens worth $8 million from Binance and staked them.

SOL Global Completes Strategic Reorganization to Focus on Solana Ecosystem

SOL Global Investments Corp. (CSE: SOL) (FSE: 9SB) has successfully completed a strategic reorganization of its assets and liabilities. The Company has transferred all of its assets other than its native Solana token assets into a newly formed entity. This reorganization is designed to enhance the Company’s focus on blockchain innovation within the Solana ecosystem.

Analysts Cautious On Solana (SOL) Price Despite Crypto Reserve Announcement

The Solana price has recently grabbed headlines due to a U.S. crypto reserve announcement. Despite this, analysts remain wary and caution investors against investing heavily in Solana. Meanwhile, a new PayFi altcoin has seen a stunning 350% surge. Solana’s price is currently at $159.34, up 11% in the last 24 hours, following a big move from President Trump who’s shaking up the crypto world with a new reserve plan. The U.S. is considering Bitcoin, Ethereum, Cardano, Ripple, and Solana for the reserve.

FTX and Alameda Unstake $431M in Solana – Potential for Bigger Crash?

The crypto world is on edge as wallets linked to bankrupt exchange FTX and its trading firm Alameda Research unstaked over 3 million Solana (SOL), worth $431 million. This is the biggest SOL unlock since they started selling off assets in November 2023. With SOL already dropping 20% in the last 24 hours, panic is spreading among investors. The move has raised concerns about a potential even bigger price crash in the market.