Solana Whale Shakes Market with $143 Million TRUMP Token Transfer
A massive transfer of 15.3 million TRUMP tokens, worth $143 million, between anonymous solana wallets has sparked concerns of a potential sell-off. The politically themed meme coin, currently trading at $9.24 with minimal gains, is hovering near a critical support level of $9.21. A breach of this level could lead to significant liquidations. On-chain data shows increasing outflows to exchanges, with trading volume surging by 117%, indicating heightened market activity and potential volatility ahead.
Whale Moves $143 Million in TRUMP Tokens Amid Market Jitters
A colossal transfer of 15.3 million TRUMP tokens—valued at $143 million—between anonymous Solana wallets has ignited fears of an impending sell-off. The politically charged meme coin, trading at $9.24 with negligible 24-hour gains, now teeters near critical support at $9.21. Breaching this level could trigger cascading liquidations.
On-chain analytics reveal accelerating outflows to exchanges, with trading volume spiking 117% to $308 million. While buyers briefly defended the $9.10 level, whale-induced volatility looms large. "Such opaque movements create powder-keg conditions," noted AlvaApp analysts, highlighting the token's susceptibility to political speculation and concentrated holdings.
Upexi Executives Bullish on Solana ETF Approval, Cite 90% Likelihood This Year
Upexi CEO Allan Marshall and CSO Brian Antolin have positioned Solana as a cornerstone of their crypto treasury strategy, expressing strong Optimism for a spot Solana ETF. "We're excited about this," Marshall stated during a recent podcast, framing the potential ETF as a major catalyst for the ecosystem.
While Marshall acknowledged regulatory hurdles around staking mechanisms—"how they're figuring out how to stake it is causing a bit of an issue"—Antolin offered a more definitive outlook. "ETF experts place a 90% probability on approval this year," he said, referencing recent speculation about a decision as early as this month.
The company's aggressive Solana accumulation reflects a institutional-grade conviction in the blockchain's scalability advantages. Their public advocacy aligns with growing market anticipation for SOL-based financial products following Bitcoin and ethereum ETF breakthroughs.
Solana's Sideways Struggle: Flat Price Trend Tests Investor Confidence
Solana (SOL) hovers at $145 amid a broader market lull, marking a 14% monthly decline. Trading volume has contracted sharply, falling 16% to $2.64 billion in 24 hours—a signal of waning speculative interest.
The altcoin's stagnation mirrors a sector-wide pause, with analysts noting diminished odds of a near-term rally to $200. 'Markets are digesting last quarter's volatility,' observes one trader, as long-term holders dig in while short-term players retreat.
Resistance levels loom large without volume support. Unlike its 2023 performance, SOL now moves like a tech stock in earnings season—all consolidation, no fireworks.
Solana Foundation Partners with Kazakhstan to Establish Solana Economic Zone
The Solana Foundation has entered a strategic partnership with Kazakhstan to create a Special Economic Zone aimed at accelerating the country's digital transformation. The collaboration, dubbed the 'Solana Economic Zone,' will focus on enhancing Kazakhstan's digital infrastructure and positioning it as a hub for fintech innovation.
Regulatory flexibility within the zone is expected to attract technology-centric investments and generate employment opportunities. Solana Foundation will support regional digital projects, with further details to be disclosed in upcoming announcements.
Corporate interest in Solana's initiatives continues to grow, reflecting broader institutional adoption of blockchain solutions in emerging markets.
