Solana Faces Sell-Off Amid Whale Moves and Network Growth
The post Solana Faces Sell-Off Amid Whale Moves and Network Growth appeared on BitcoinEthereumNews.com. Solana (SOL) has drawn significant attention from investors due to its recent volatile price movements. Despite positive signals regarding network performance and long-term potential, whale activities indicate that SOL may be at risk of a sell-off. So, what factors will determine SOL’s next direction? Whale Movements: Rising Selling Pressure Recently, the market has witnessed a series of selling and unstaking activities from major wallets, raising concerns about selling pressure on SOL. On May 12, 2025, a whale released 103,040.6 SOL, equivalent to $17.7 million. Separately, a wallet linked to FTX/Alameda has unstaked 187,625 SOL, worth $32.24 million. On the same day, Pump.fun, a token issuance platform on Solana, transferred 132,000 SOL to the Kraken exchange. These actions suggest that large investors are profiting after SOL’s recent price surge, reflecting a cautious sentiment amid market volatility. Solana Network Status: Strength Still Affirmed Despite the mounting selling pressure from whales, the Solana network continues demonstrating exceptional strength within the blockchain ecosystem. Solana led all blockchains in revenue generation for Q1 2025, reaching over $200 million, surpassing Ethereum and BNB Chain. Data from DeFiLlama also reveals that Solana ranks first for DEX trading volume. Over the past 30 days, the Solana network processed more than $81.8 billion in transactions, capturing a 24.25% market share. “Solana continues to prove itself as a powerhouse in the blockchain space! Leading DEX volume is a clear testament to its scalability and strength,” said Merlijn Trader. Solana DEX Trading Volume. Source: DeFiLlama However, not all aspects are positive. According to Dune Analytics, the Solana network is grappling with a significant transaction failure rate, with nearly 40% of non-vote transactions failing. Solana Failed Non-Vote Transaction Rate. Source: Dune SOL Price Analysis: Market Sentiment Divided SOL’s price reflects a clear divergence in market sentiment, with positive and negative signals. On…
The post Solana Faces Sell-Off Amid Whale Moves and Network Growth appeared on BitcoinEthereumNews.com.
Solana (SOL) has drawn significant attention from investors due to its recent volatile price movements. Despite positive signals regarding network performance and long-term potential, whale activities indicate that SOL may be at risk of a sell-off. So, what factors will determine SOL’s next direction? Whale Movements: Rising Selling Pressure Recently, the market has witnessed a series of selling and unstaking activities from major wallets, raising concerns about selling pressure on SOL. On May 12, 2025, a whale released 103,040.6 SOL, equivalent to $17.7 million. Separately, a wallet linked to FTX/Alameda has unstaked 187,625 SOL, worth $32.24 million. On the same day, Pump.fun, a token issuance platform on Solana, transferred 132,000 SOL to the Kraken exchange. These actions suggest that large investors are profiting after SOL’s recent price surge, reflecting a cautious sentiment amid market volatility. Solana Network Status: Strength Still Affirmed Despite the mounting selling pressure from whales, the Solana network continues demonstrating exceptional strength within the blockchain ecosystem. Solana led all blockchains in revenue generation for Q1 2025, reaching over $200 million, surpassing Ethereum and BNB Chain. Data from DeFiLlama also reveals that Solana ranks first for DEX trading volume. Over the past 30 days, the Solana network processed more than $81.8 billion in transactions, capturing a 24.25% market share. “Solana continues to prove itself as a powerhouse in the blockchain space! Leading DEX volume is a clear testament to its scalability and strength,” said Merlijn Trader. Solana DEX Trading Volume. Source: DeFiLlama However, not all aspects are positive. According to Dune Analytics, the Solana network is grappling with a significant transaction failure rate, with nearly 40% of non-vote transactions failing. Solana Failed Non-Vote Transaction Rate. Source: Dune SOL Price Analysis: Market Sentiment Divided SOL’s price reflects a clear divergence in market sentiment, with positive and negative signals. On…
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