Solana Whale Activity Fuels Bullish Sentiment as Market Eyes $200 Breakout
Solana (SOL) has captured significant market attention following two massive whale transactions totaling 1,388,655 SOL (approximately $235.4 million) between unidentified wallets. These movements, tracked by Whale Alert, suggest strategic redistribution rather than direct exchange deposits, sparking speculation about the whales’ next moves. With SOL currently trading at $177.87, the cryptocurrency community is closely watching for potential price action toward the $200 psychological barrier. This development underscores the growing institutional interest in Solana’s high-performance blockchain and its potential for further upside in 2025.
Solana Whale Activity Sparks Market Speculation as Price Eyes $200
Solana (SOL) has drawn significant market attention following two large whale transactions totaling 1,388,655 SOL—approximately $235.4 million—between unidentified wallets. The movements, tracked by Whale Alert, suggest potential redistribution rather than direct exchange deposits, leaving traders speculating on the whales’ next steps.
Such sizable transfers often precede strategic shifts—whether selling, securing, or reorganizing holdings. Market participants are watching closely for follow-up actions that could drive volatility or upward momentum. SOL remains range-bound between $160 and $175, struggling to solidify support above $175 for a push toward $180.
At press time, SOL trades at $171.84, up 3.27% over 24 hours despite the uncertainty. The lack of exchange-bound transfers tempurs immediate sell-off fears, but the scale of movement underscores heightened institutional activity in Solana’s ecosystem.
Solana (SOL) Aims Higher With Strong Buyer Support, Next Stop $200?
Solana’s price resurgence from the $165 support level signals growing bullish momentum. The asset now trades firmly above $172, outpacing broader market trends with a clear trajectory toward $180 resistance.
A connecting bullish trend line on the hourly chart reinforces support at $170, while Kraken data shows increased accumulation near current levels. The rally mirrors Bitcoin and Ethereum’s recovery, suggesting institutional interest is returning to altcoins.
Solana Whale Transactions Signal Institutional Confidence Amid Price Rally
Two high-value solana transactions totaling 1.38 million SOL ($235 million) between unknown wallets have sparked market speculation. The whale activity coincides with SOL’s 4.34% price surge to $177.28, breaking out from an ascending triangle pattern.
Spot markets show $29.76 million in net inflows, suggesting accumulation by bullish investors. With $178 liquidation clusters cleared, technical analysis indicates a clear path toward the $180–$185 resistance range.
The transaction size and timing point to strategic repositioning by institutional players. Market structure appears favorable for continued upside if buyer momentum sustains, with on-chain data reinforcing the bullish thesis.
Canary Capital Amends SOL ETF Filing to Include Staking, Faces SEC Hurdles
Canary Capital has revised its application for a U.S. spot Solana (SOL) ETF to incorporate a staking feature, aiming to enhance investor returns through validation rewards. The amended S-1 filing designates Marinade Finance as the staking provider, positioning the Canary Marinade Solana ETF to generate dual revenue streams from direct SOL exposure and staking yields.
Bloomberg ETF analysts cast doubt on approval prospects, citing the SEC’s historical reluctance toward crypto staking mechanisms. "The Trust seeks price exposure to SOL holdings while opportunistically accumulating additional tokens through network participation," the filing states—a bold gambit in a regulatory climate that remains skeptical of proof-of-stake derivatives.
