Solana Price Falls 5% as Whale Activity Triggers Decline

by Giorgi Kostiuk

a year ago

Solana's current market situation has attracted investor attention following a significant transaction that led to a notable drop in token value.

Whale Activity Triggers Solana Price Decline

The 5% price decline of Solana is linked to a large transaction on the Kraken exchange. Tokens valued at $20.49 million were transferred from a wallet belonging to Pump Fun.n, leading to a 51.48% increase in trading volume.

Pump fun: Fee Account transferred about 98,594 SOL to Kraken at 1:04 UTC+8 today through a wallet: 8sp5im...Rac3sM, worth about 20.49 million US dollars. Currently, pump fun still holds 15,721 SOL and 101,102 JITSOL, with a total value of about 27.10 million US dollars.Wu Blockchain

Market Metrics Indicate Volatility

Solana's market capitalization fell by 5.08% to $95.41 billion. The trading volume rose to $5.21 billion, largely due to the whale transaction. Currently, 81.7% of available tokens are being traded, highlighting market volatility.

Solana Support and Resistance Levels

Key support and resistance levels impact Solana's near-term trend. The $194 level is the initial support, with a threat of increased selling pressure below it. Breaking the $200 level could signal a potential trend reversal.

Whale activity significantly impacts Solana's price, leading to short-term fluctuations. Future recovery will depend on the market's supply and demand balance.

Rewards

More rewards

Discover enhanced rewards on our social media.

Other news

Ethereum Staking Queue Surpasses Exit Line for the First Time in Six Months

For the first time in six months, Ethereum's staking queue has surpassed the exit line, indicating a significant shift in validator behavior.

Diego Alvarez33 minutes ago

Dogecoin Open Interest Recovers After Significant Decline

Dogecoin's open interest fell below 13 billion but has recovered to above 15 billion, indicating potential price recovery.

Kenji Takahashi41 minutes ago

Unverified Surge in Cryptocurrency Market Cap Raises Concerns

Reports of an $80 billion increase in cryptocurrency market cap lack verification and official confirmation.

Maria Fernandezan hour ago

Ethereum Achieves 87 Million Smart Contracts Deployed in Q4 2025

Ethereum has reached a new milestone with 87 million smart contracts deployed, indicating strong growth in developer activity.

Gustavo Mendozaan hour ago

Regulatory Context of FLOW Delisting Watchlist in South Korea

The recent placement of the FLOW token on the delisting watchlist by major South Korean exchanges is due to the enforcement of the Virtual Asset User Protection Act, which mandates rigorous standards for investor protection.