Solana (SOL) Price Alert: Galaxy Digital Moves $103 Million in Tokens to Coinbase - Market Braces for Impact

Galaxy Digital just dropped a nine-figure Solana bomb on Coinbase—and the market's holding its breath.

The $103 million transfer signals institutional players are positioning for action. Whether that means dumping or deploying capital remains the million-dollar question—or in this case, the hundred-three-million-dollar one.

Timing is everything. With Solana hovering at a critical technical level, a move this size doesn’t just ripple—it tidal waves.

Expect volatility, watch order books, and remember: in crypto, 'strategic reallocation' is just banker-speak for 'we’re about to make a move—good luck keeping up.'

TLDR

• Galaxy Digital transferred $103 million worth of SOL tokens to Coinbase exchange in multiple batches
• The company posted $156 million profit in Q2 2025, reversing previous year’s losses
• Reports suggest Galaxy is building a $1 billion Solana treasury despite recent exchange deposits
• Technical analysis shows SOL recovering from $195 support with $205 as next key resistance
• Analysts target $250 as major resistance with potential for $400+ if breakout occurs

Galaxy Digital made waves in the crypto market this week by depositing 500,000 Solana tokens worth approximately $103 million to Coinbase exchange. The transfers occurred in multiple batches ranging from 50,000 to 80,000 SOL tokens each.

Galaxy Digital has deposited 500,000 $SOL($103M) to #Coinbase over the past 5 days.https://t.co/WrqltmDhXA pic.twitter.com/Zb77aFndBH

— Lookonchain (@lookonchain) September 2, 2025

On-chain data from Arkham Intelligence shows the deposits happened systematically rather than as one large transaction. The most recent transfer on August 31 involved 50,000 SOL worth nearly $9.9 million.

Despite these large deposits, Galaxy still holds around 2,000 SOL tokens worth roughly $400,000. The company also maintains a diversified portfolio including PYUSD, POPCAT, JTO, and Helium tokens.

The exchange deposits come at an interesting time for Galaxy Digital’s business performance. The company reported a $156 million profit for Q2 2025, marking a complete turnaround from losses in the previous year.

This strong financial performance came from trading gains and higher management fees. CEO Mike Novogratz attributed the success to growing institutional crypto adoption driving long-term growth.

Large transfers to exchanges typically raise questions about potential sell pressure in the market. Traders are now debating whether Galaxy’s moves indicate short-term liquidity needs or profit-taking activity.

Strategic Treasury Building

Interestingly, these exchange deposits coincide with reports that Galaxy is building a $1 billion solana treasury according to Milk Road Daily. If completed, this would make Galaxy one of the largest SOL holders globally.

The potential treasury would be roughly three times larger than current leader Upexi’s holdings. Such a position would effectively turn Galaxy stock into a publicly traded proxy for Solana performance.

This dual strategy highlights Galaxy’s complex approach to the Solana ecosystem. Short-term liquidity management through exchange transfers contrasts with long-term positioning through massive treasury accumulation.

At press time, Solana was trading around $203 per token. This level has remained stable despite the $103 million inflow to Coinbase wallets.

Technical Recovery Signs

From a technical perspective, Solana’s price action shows recovery signs after testing the $195 support zone. The token has broken above a bearish trend line with resistance at $201 on hourly charts.

SOL price surpassed the $198 and $200 resistance levels during its recovery attempt. The MOVE also cleared the 23.6% Fibonacci retracement level from the $218 swing high to $194 low.

Current price action faces resistance NEAR the $205 level, which coincides with the 50% Fibonacci retracement. The main resistance sits at $209, with a successful break potentially setting pace for further gains.

$SOL weekly chart just broke back into the rising wedge.

Clean reclaim of the macro trendline + 200W MA bounce = strong structure.

Key resistance remains at ~$250 — break that and we’re headed for price discovery.

Midterm target: $400+

Risk still exists but structure looks… pic.twitter.com/ODXfeYTxtI

— Dus⚡️ (@dusxbt) September 1, 2025

Analyst Dus noted that SOL has reclaimed its macro rising wedge structure on weekly charts. The token bounced cleanly off the 200-week moving average, establishing structural support.

Dus highlighted $250 as the key resistance zone for SOL’s next major test. A successful breakout above this level could push the token into price discovery mode with midterm targets reaching $400 or higher.

However, analyst Ted Pillows offered a more cautious outlook. He identified a liquidity cluster in the $160-$180 range that could be tested if Bitcoin and ethereum lose momentum in September.

$SOL has a decent liquidity cluster around $160-$180 level.

If $BTC and $ETH show a lack of momentum, large caps will experience severe corrections.

I think $SOL could sweep the downside liquidity in September before a new ATH in Q4. pic.twitter.com/ZES9ZKGK56

— Ted (@TedPillows) September 1, 2025

Technical indicators currently show bullish momentum building. The hourly MACD is gaining pace in the bullish zone while RSI remains above the 50 level.

Support levels are established at $200 and $195, while resistance sits at $205 and $209. A break below $195 could send SOL toward $188 support in the near term.