Solana whales make massive $836M move – Upside to $260 IF…

Key Takeaways 

Why is Solana’s $214 support critical now?

Whale inflows of $836 million threaten sell pressure, yet institutional transfers hint at redistribution.

What signals shape the next move for SOL?

Daily Active Addresses fell 27%, but Funding Rates stayed positive, leaving SOL torn between weakening usage and bullish derivatives positioning.

Whale Alert tracked more than 2.5 million Solana [SOL] moving to Binance in several large tranches. The transfers totaled over $836 million, highlighting the massive scale of liquidity potentially entering the market. 

Such inflows typically suggest that holders might be preparing to liquidate positions, a trend that often signals potential sell pressure.

At the same time, $54 million shifted to Coinbase Institutional, suggesting strategic redistribution rather than pure liquidation.

This contrast left traders questioning whether whales were preparing for a major market swing.

Solana price holds ground for breakout toward $260

The daily chart highlighted Solana consolidating above the $214–$220 support zone, which has acted as a foundation for the recent uptrend.

An ascending trendline stretching from April continues to provide structural backing for the bullish case. 

Repeated rejections near $240 showed buyers lacked conviction to push higher. If support holds, Solana could rebound toward $260.

Conversely, a breakdown beneath support may expose the altcoin to extended volatility, especially with whale activity intensifying on centralized exchanges.

Source: TradingView

Network activity decline raises questions 

Daily Active Addresses fell nearly 27% in a week, dropping from 2.6 million to 1.9 million. This decline underscored weakening user participation, creating concerns over sustainability.

While the market has held up under pressure, the divergence between price performance and shrinking activity creates risks. 

Moreover, reduced participation could constrain transaction volumes and ecosystem development, both of which are vital for maintaining bullish narratives. 

Thus, declining engagement now stood as a critical factor shaping investor perception and confidence.

Source: Santiment

Derivatives still lean bullish

Perpetual Futures markets provided another layer of insight into Solana’s sentiment.

The OI-Weighted Funding Rate was slightly positive at +0.0074%, showing that traders were still paying a premium to maintain long positions. 

Such behavior reflects confidence in potential upside, but it also increases the risk of sudden liquidations if momentum weakens. 

While speculative demand continued to support price stability, the divergence between Derivatives optimism and weakening on-chain activity could trigger volatility. 

Source: CoinGlass

Will SOL retest support before rebounding to $260?

For now, whale activity continues to dictate Solana’s immediate path, as Exchange Inflows highlight looming risks of sell pressure while institutional transfers suggest strategic repositioning. 

Price action around the $214–$220 zone remained pivotal, serving as the base for any attempt to climb higher.

With network participation sliding and Derivatives traders staying cautiously bullish, the market is caught between conflicting signals. 

Ultimately, increased whale-driven sell pressure could force Solana to retest its support zone before staging a rebound toward $260 in the coming sessions.