The cryptocurrency Solana is maintaining a price around $150, despite recent activities by whales that withdrew significant token volumes. However, data suggests a more nuanced situation than mere panic.
Whale Moves and Staking
A June 30 post from Lookonchain highlighted two wallets associated with Wintermute, which unstaked 1 million SOL (approximately $139 million) and deposited 240,000 SOL to Binance over the past 72 hours. This sparked speculation of a looming dump, but staking and liquidity data suggest this might be profit rotation rather than capitulation.
Spot Flows and Solana Price
Charting Solana's spot exchange behavior reveals neutral signals. Over the past few days, net flows have turned negative, suggesting more SOL is being sent to exchanges than withdrawn. Nevertheless, the SOL price structure remains steady at $150–$153, with demand support at around $140 and $130 beneath.
Derivatives and Market Sentiment
Funding rates remain at near-neutral levels, with minor fluctuations over the past week. LunarCrush shows a modest Galaxy Score of 59, while AltRank is elevated at 237, indicating underperformance against other altcoins. Currently, the market sentiment appears more like a cooldown rather than a sell-off.
Overall, whale data suggests asset rotation; however, the absence of broader staking outflows and calm derivatives activity indicate that the $150 level may be resilient. A local pullback is possible, but for now, consolidation seems to be the trend.
