Galaxy Digital’s $205 million SOL withdrawal from Binance signals institutional accumulation of Solana and reduced immediate sell pressure. This move, combined with recent inflows and a bullish daily chart, increases the likelihood of renewed upside toward the $300 zone if momentum and spot liquidity hold.
Galaxy Digital withdrew 920,000 SOL (~$205M), indicating long-term custody, not short-term selling.
Exchange inflows to Solana reached $234M recently, suggesting supply being converted into spot positions.
Solana’s daily chart flipped bullish; analysts see potential room for a move toward $300 if momentum continues.
Galaxy Digital Solana withdrawal signals institutional accumulation and lower sell pressure; read the data-backed breakdown and what it means for a potential $300 target.
What was Galaxy Digital’s $205 million SOL withdrawal?
The Galaxy Digital Solana withdrawal was a transfer of approximately 920,000 SOL (about $205 million) off Binance into custody wallets. Institutional withdrawals of this scale typically reflect accumulation or long-term custody, reducing the immediate liquid supply available on exchanges and often supporting price stability.
‘,
‘
🚀 Advanced Trading Tools Await You!
Maximize your potential. Join now and start trading!
‘,
‘
📈 Professional Trading Platform
Leverage advanced tools and a wide range of coins to boost your investments. Sign up now!
‘
];
var adplace = document.getElementById(“ads-bitget”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex;
adplace.innerHTML = adscodesBitget[adsindex];
sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBitget”, sessperindex);
}
})();
How do whale withdrawals typically affect market dynamics?
Whale withdrawals from exchanges commonly indicate a shift from liquid exchange-held balances to custody or cold storage. This reduces available sell-side liquidity and can tighten supply. Combined with strong inflows from other chains, the net effect is often a bullish structural signal—provided buying demand follows to absorb reduced exchange supply.
Whale withdrawals signal accumulation
Large-scale withdrawals are rarely random. Moving tokens off an exchange often signals institutions intend to hold, which reduces short-term sell pressure. When multiple institutions convert stablecoin liquidity into spot SOL, exchange liquidity contracts and price support improves.
The withdrawal followed a period when Solana exchange inflows surged to approximately $234 million, with significant flows originating from Ethereum, Arbitrum and Base. These cross-chain inflows suggest notable capital rotation into Solana spot positions, per on-chain flow trackers and deBridge inflow data.
‘,
‘
🔒 Secure and Fast Transactions
Diversify your investments with a wide range of coins. Join now!
‘,
‘
💎 The Easiest Way to Invest in Crypto
Dont wait to get started. Click now and discover the advantages!
‘
];
var adplace = document.getElementById(“ads-binance”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBinance”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBinance.length) : sessperindex;
adplace.innerHTML = adscodesBinance[adsindex];
sessperindex = adsindex === adscodesBinance.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBinance”, sessperindex);
}
})();
Solana’s daily chart recently flipped bullish, breaking through critical resistance and forming higher highs and higher lows. If institutional accumulation continues and spot liquidity supports further buying, technical and on-chain evidence suggests room for a move toward the $300 zone — a level that would signal a notable recovery.
That said, on-chain derivatives metrics show a divergence: the Futures 90-day cumulative volume delta indicates higher seller dominance among retail futures traders, per CryptoQuant data. This retail selling could cap near-term gains unless institutional buying sustains the momentum.
‘
];
var adplace = document.getElementById(“ads-htx”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexHtx”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesHtx.length) : sessperindex;
adplace.innerHTML = adscodesHtx[adsindex];
sessperindex = adsindex === adscodesHtx.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexHtx”, sessperindex);
}
})();