Solana (SOL) buyers are witnessing rising volatility as a surge in whale exercise alerts lethal promoting strain out there. Regardless of a powerful rally above $250 earlier in September, market sentiment seems to be shifting, with whale deposits into centralized exchanges hinting at potential headwinds forward. Most not too long ago, a staggering 312,233 SOL tokens had been deposited into Coinbase, fueling issues that whales could also be positioning for important profit-taking. 

Solana Whale Deposits Sign Rising Promoting Strain

Blockchain tracker Whale Alert reported one of many largest Solana transfers in current weeks, with 312,233 SOL valued at roughly $75.1 million, moved from an unknown pockets to Coinbase Institutional on September 21. The scale and timing of this large-scale switch instantly raised issues that whales may very well be positioned to promote. 

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Earlier than this switch, Whale Alert had flagged one other large transaction of 227,928 SOL, value round $54.5 million, being funneled into Coinbase on the identical day. Collectively, these two deposits signify greater than $129 million in Solana probably at stake of being offered off.

The implications of such strikes are important, as giant holders sometimes ship tokens to exchanges with the intention to promote, in the end including appreciable downward strain to the market. Notably, Solana’s value rally in September has been fueled by robust demand; nonetheless, these current transfers elevate the chance of oversupply, notably because the token hovers round $224. If whales comply with by means of with the promoting, it may cap SOL’s bullish breakout try and power the worth again to decrease help zones. 

Apparently, this isn’t the primary time Solana has confronted comparable whale-driven headwinds this month. Simply over every week in the past, blockchain analytics platform Lookonchain reported a number of whale dumpings into varied crypto exchanges. A pockets tagged “CMJiHu” deposited 96,996 SOL ($17.45 million) into Coinbase, whereas “5PjMxa” moved 91,890 SOL ($15.98 million) to Kraken. The identical day, one other pockets “HiN7sS” transferred 37,658 SOL ($6.73 million) to Binance, securing a revenue of $1.63 million. These earlier transfers, mixed with the newest inflows, present a sample of whales steadily lowering their publicity as market sentiment shifts.

SOL Momentum Weakens Underneath Heavy Promoting

Crypto analysts now view Solana as being at a pivotal crossroad, the place robust fundamentals conflict with mounting promoting strain and technical dangers. Market skilled Tom Tucker notes that SOL has climbed greater than 150% in 2025, however its rally is exhibiting indicators of fatigue. The analyst’s chart reveals a rising wedge formation, usually a precursor to a breakdown, mixed with weakening momentum indicators.  

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The Relative Energy Index (RSI) is narrowing right into a triangle, suggesting indecision, whereas the MACD has flattened after months of energy. This setup, when paired with heavy whale deposits into exchanges and rising promote strain, underscores the rising risk of a short-term pullback. 

But, the outlook just isn’t totally bearish. Tucker factors to optimism surrounding a possible Solana ETF, the upcoming Alpenglow improve, and regular treasury accumulation as basic drivers that would prolong SOL’s long-term development.

Featured picture from iStock, chart from Tradingview.com