Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Solana (SOL) investors are witnessing rising volatility as a surge in whale activity signals deadly selling pressure in the market. Despite a strong rally above $250 earlier in September, market sentiment appears to be shifting, with whale deposits into centralized exchangeshinting at potential headwinds ahead. Most recently, a staggering 312,233 SOL tokens were deposited into Coinbase, fueling concerns that whales may be positioning for significant profit-taking. Solana Whale Deposits Signal Rising Selling Pressure
Blockchain tracker Whale Alert reportedone of the largest Solana transfers in recent weeks, with 312,233 SOL valued at approximately $75.1 million, moved from an unknown wallet to Coinbase Institutional on September 21. The size and timing of this large-scale transfer immediately raised concernsthat whales could be positioned to sell. Related Reading XRP Price At $23, Dogecoin To $2, And Solana At $1,800? Analyst Unveils 2026 Predictions 1 week ago
Before this transfer, Whale Alert had flaggedanother massive transaction of 227,928 SOL, worth around $54.5 million, being funneled into Coinbase on the same day. Together, these two deposits represent more than $129 million in Solana potentially at stake of being sold off.
The implications of such moves are significant, as large holders typically send tokens to exchanges with the intention to sell, ultimately adding considerable downward pressure to the market. Notably, Solana’s price rally in Septemberhas been fueled by strong demand; however, these recent transfers raise the risk of oversupply, particularly as the token hovers around $224. If whales follow through with the selling, it could cap SOL’s bullish breakout attempt and force the price back to lower support zones.
Interestingly, this is not the first time Solana has faced similar whale-driven headwinds this month. Just over a week ago, blockchain analytics platform Lookonchain reportedmultiple whale dumpings into various crypto exchanges. A wallet tagged “CMJiHu” deposited 96,996 SOL ($17.45 million) into Coinbase, while “5PjMxa” moved 91,890 SOL ($15.98 million) to Kraken. The same day, another wallet “HiN7sS” transferred 37,658 SOL ($6.73 million) to Binance, securing a profit of $1.63 million. These earlier transfers, combined with the latest inflows, show a pattern of whales steadily reducing their exposureas market sentiment shifts. SOL Momentum Weakens Under Heavy Selling
Crypto analysts now view Solana as being at a pivotal crossroad, where strong fundamentalsclash with mounting selling pressure and technical risks. Market expert Tom Tucker notesthat SOL has climbed more than 150% in 2025, but its rally is showing signs of fatigue. The analyst’s chart reveals a rising wedge formation, often a precursor to a breakdown, combined with weakening momentum indicators. Related Reading Solana Faces Deadly Selling Pressure After 312,233 SOL Deposit Into Coinbase – Here’s The Value 8 hours ago
The Relative Strength Index (RSI)is narrowing into a triangle, suggesting indecision, while the MACD has flattened after months of strength. This setup, when paired with heavy whale deposits into exchanges and rising sell pressure, underscores the growing possibility of a short-term pullback. Source: Chart from Tom Tucker on X
Yet, the outlook is not entirely bearish. Tucker points to optimism surrounding a potential Solana ETF, the upcoming Alpenglow upgrade, and steady treasury accumulation as fundamental drivers that could extend SOL’s long-term growth. SOL trading at $221 on the 1D chart | Source: SOLUSDT on Tradingview.com Featured image from iStock, chart from Tradingview.com