Solana Faces Downside Risk as Whale Activity Sparks Market Turmoil

Solana's price experienced a significant drop to $163 on August 2, 2025, marking a 2.86% decline within 24 hours. This downturn was primarily driven by large holders, commonly referred to as 'whales,' who aggressively offloaded $17 million worth of SOL into the market. The sudden sell pressure not only intensified bearish sentiment but also triggered $57 million in long-position liquidations. Technical indicators now suggest further downside risk, with analysts warning of a potential slide toward $120. Market participants are closely monitoring the situation, as the uncertainty surrounding Solana's near-term performance grows. Despite the current turbulence, some investors remain optimistic about Solana's long-term potential, given its strong ecosystem and technological advantages. However, the immediate focus remains on whether the market can stabilize and recover from this recent whale-driven volatility.

Whales Drive Solana’s Price Plunge, Prompting Fear and Uncertainty

Solana's price tumbled to $163 on August 2, marking a 2.86% drop within 24 hours. Large holders, or 'whales,' moved aggressively, offloading $17 million worth of SOL into the market. The sell pressure triggered $57 million in long-position liquidations, amplifying bearish sentiment.

Technical indicators now point to further downside risk, with analysts warning of a potential slide toward $120. Market participants are reassessing exposure as whale activity erodes confidence in Solana's near-term trajectory.

BlockchainFX Emerges as Top Contender for 100x Gains Amid Waning Confidence in BlockDAG and Unstaked

Cryptocurrency investors are relentlessly pursuing the next high-growth opportunity, with BlockchainFX, BlockDAG, and Unstaked currently dominating speculative interest. Among these, BlockchainFX stands out, generating significant FOMO due to its presale momentum and multi-functional platform. The project has already raised $4.4 million from over 3,700 participants, with tokens priced at $0.017 during the presale—a steep discount to the anticipated $0.05 launch price.

Analysts project potential post-launch valuations reaching $1 to $10, suggesting 100x returns for early backers. Meanwhile, BlockDAG and Unstaked are losing traction as investors pivot toward BlockchainFX's passive income features and all-in-one ecosystem. The presale's velocity mirrors early-stage successes of Binance and Solana, fueling speculation that this could be the next breakout crypto asset.

Unilabs Gains Momentum with CoinMarketCap Listing and UAE Regulatory Support, Potential Challenger to Solana

Solana's price volatility has left investors searching for alternatives, with Unilabs Finance emerging as a contender. Rumors of a CoinMarketCap listing and regulatory backing in the UAE position Unilabs for growth in the smart contract arena. Analysts suggest it could eclipse Solana's hype—including the anticipated SOL ETF—by 2028.

Institutional interest in solana persists, with Grayscale, Fidelity, and VanEck revising their SOL ETF filings to align with SEC expectations. Despite a 10% weekly drop to $160, market watchers assign a 95% probability of ETF approval by September. Such approval could reignite momentum, though uncertainties linger.

Solana Long-Term Holders Accumulate Amid Price Dip

Solana's SOL token has declined 14% over the past week, testing crucial support at $158.80 after failing to sustain momentum from its July 22 cycle high of $206. The current price of $160.55 reflects weakened short-term trader confidence, but on-chain metrics reveal a contrasting narrative of strategic accumulation by veteran investors.

Glassnode data shows a 102% surge in long-term holder positions since July 30, with coins increasingly moving to cold storage. The realized Profit/Loss Ratio hitting a 30-day low of 0.15 indicates most sellers are capitulating at losses, while declining Liveliness metrics confirm reduced selling pressure from diamond hands. This accumulation pattern suggests institutional players view current levels as an attractive entry point.

Technical analysts note the $158.80 support level remains pivotal, with a breakout above $176.33 potentially signaling renewed bullish momentum. The divergence between price action and holder behavior mirrors accumulation patterns seen during previous market bottoms.