Altcoins News
By Maheen Hernandez
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Solana (SOL) has come under renewed pressure after a significant whale transaction triggered concerns about the token’s short-term stability.
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In the past nine days, a large Solana holder unstaked 1 million SOL tokens—worth an estimated $139 million.
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This move has raised eyebrows in the crypto community, especially as it followed a failed breakout attempt near the $154 level.
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While it’s not unusual for whales to take profits after rallies, the timing and scale of the recent sell-off have led some traders to question whether institutional confidence in…
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Further analysis from CryptoQuant reveals a sharp decline in Solana’s Spot Average Order Size, which tracks the typical volume per trade on spot markets.
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This lack of institutional participation could suggest that whales are either pausing their activity or have become cautious amid market uncertainty.
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Interestingly, retail sentiment appears to be moving in the opposite direction. Data from CoinGlass shows that Solana’s Netflow has dropped to -$19.69 million.
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Retail investors withdrawing SOL into private wallets may suggest growing conviction that the asset will recover and trend higher in the near term.
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Historically, periods of negative Netflow and decreasing sell-side pressure have often preceded upward movements, especially when paired with rising market engagement.
10 / 15
Further adding to the picture, perpetual futures trading volume for Solana has bounced back after a four-day slump.
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A rising perps volume is typically associated with higher market interest and directional bets, whether long or short.
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This spike could play a significant role in near-term price movements, especially if it coincides with increased spot demand or significant liquidations.
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Despite recent whale selling, analysts note that there’s no widespread panic among large holders.
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Many institutional wallets are reportedly on hold, watching how the market unfolds. This pause may indicate that large holders are waiting for confirmation of market direction…
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Solana’s recent dip below $154 seems to reflect a healthy correction rather than a collapse.
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