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Recent whale movements and network performance highlight the current dynamics of Solana (SOL), as the market sentiment becomes increasingly intricate.
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Amidst sell-offs, Solana’s blockchain continues to exhibit impressive growth metrics, particularly in decentralized exchange (DEX) trading volume.
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According to recent analyses, the market sentiment remains split, with some experts bullish on SOL while others anticipate imminent corrections.
Explore the complexities surrounding Solana (SOL) as whale activities raise selling concerns, yet the network showcases exceptional growth and performance metrics.
Whale Movements: Rising Selling Pressure
Recently, major players in the market have initiated significant selling and unstaking actions, indicating potential selling pressure on Solana (SOL).
Notably, on May 12, 2025, a notable whale released 103,040.6 SOL, translating to approximately $17.7 million. In a separate transaction, a wallet linked to FTX/Alameda unstaked 187,625 SOL, valued at roughly $32.24 million.
Furthermore, the token issuance platform Pump.fun transferred 132,000 SOL to the Kraken exchange the same day, underscoring a cautious sentiment among large investors following SOL’s recent price increase.
Solana Network Status: Strength Still Affirmed
Despite the heightened selling pressure from whales, the Solana network illustrates remarkable resilience within the blockchain landscape. For Q1 2025, Solana exceeded $200 million in revenue, outperforming Ethereum and BNB Chain, reflecting its robust network performance.
Additionally, recent data from DeFiLlama positions Solana at the forefront of DEX trading volume, having facilitated over $81.8 billion in transactions over the past 30 days—capturing a 24.25% market share.
“Solana continues to prove itself as a powerhouse in the blockchain space! Leading DEX volume is a clear testament to its scalability and strength,” observed Merlijn Trader.
However, challenges persist; Dune Analytics indicates that nearly 40% of non-vote transactions on the Solana network are failing, which raises concerns about the platform’s operational reliability.
SOL Price Analysis: Market Sentiment Divided
The price trajectory of SOL reflects a stark divergence in market sentiment, showcasing both bullish and bearish signals. On a more optimistic note, various analysts express confidence in SOL’s growth potential.
A crypto expert recently proclaimed on X, “Solana summer is coming,” heralding a prospective period of growth. Another analyst highlighted SOL’s perceived undervaluation in light of its revenue generation and DeFi activity. Analyst Ali speculated that if SOL breaks the $200 threshold, it could trigger a significant bull run.
On the flip side, warnings about potential corrections are emerging. Inmortalcrypto cautioned that the weekend pumps often indicate local tops following a bullish week, suggesting a possible price correction ahead. He considers the $140-$160 range a sensible entry point should such a correction occur.
Is SOL at Risk of a Sell-Off After Its Surge?
On-chain data and current market trends suggest that Solana (SOL) may be approaching a critical juncture. The selling pressure exerted by whales, particularly large wallets such as FTX/Alameda and Pump.fun, could introduce a short-term correction, given that prices have surged to $180 with minimal pullbacks.
Nevertheless, the compelling fundamentals, marked by leading revenue metrics and robust DEX trading volume, should provide a solid foundation for SOL’s long-term outlook. Projects like Pump.fun, despite ongoing debates about token value, are notable for their contributions to overall network activity.
If SOL manages to maintain support above the $160 mark while grappling with whale selling pressure, analysts believe the price could hit the $200 milestone, paving the way for a more substantial rally.
Conclusion
In summary, the interplay between whale movements and Solana’s network strength creates a complex narrative for SOL. As selling pressures loom, the blockchain’s exceptional fundamentals offer a glimmer of hope for future price recovery, ensuring that market participants remain vigilant.
