Recent actions by major holders of Solana tokens raise questions about the future price of SOL in the market. Whales have started selling, which could affect short-term price fluctuations.
Whales Unstake 1 Million SOL
Recent blockchain activity shows that two major wallets—2dqEsM and E7TuGh—unstaked 1 million SOL tokens, worth about $139 million, just nine days ago. Since then, they have transferred 240,000 SOL, valued around $35 million, to Binance over the last three days. Such transfers to centralized exchanges often signal intent to sell.
Signals of a Broader Sell-Off
Large holders transferring tokens to exchanges is widely seen as a bearish signal. In the case of Solana, this kind of activity has coincided with price drops in recent weeks. When SOL was nearing $150 earlier this month, whale movements triggered a sharp decline to the $110–$130 range. The pressure may continue, as these whale wallets could still hold large amounts of unstaked SOL.
Reasons Whales Are Selling
There are several reasons whales may be exiting their positions. Profit-taking is a common strategy—especially when tokens have appreciated significantly since being staked. Many early investors bought SOL at much lower prices, making this a strategic time to cash out. Additionally, token unlocks and fund rebalancing are typical during mid-year adjustments. Despite this, not all whale movement indicates panic; some may simply be from standard portfolio management.
Whale activity in the Solana market raises caution among retail investors due to the potential for further price pressure. Investors should be careful in such volatile conditions.
