Whales Buy $80.7M in Solana as $SOL Targets $225

Key Points

• Whales withdraw $80.7M SOL from Binance, cutting exchange supply.
• Solana processes 3.8B transactions, dominating blockchain activity.
• $SOL trades above $210, with ETF decision ahead in October.

Whale activity around Solana has intensified, with two wallets withdrawing 376,076 SOL worth $80.7 million from Binance. These funds moved into Kamino, a DeFi platform, signalling growing institutional confidence in Solana’s ecosystem.

Such large withdrawals reduce exchange supply and often support bullish momentum by easing potential selling pressure. This accumulation follows Solana’s $1.65 billion treasury announcement, adding to optimism around its financial strength.

Analyst ZYN highlighted that whale buying mirrors past cycles where major assets like Bitcoin and Ethereum later entered strong rallies. These moves suggest whales are positioning Solana for a similar growth phase in the current market cycle.

Network Activity Reinforces Adoption Strength

Blockworks Research data shows Solana consistently processes over 3 billion monthly transactions, far ahead of competitors. At its August 2025 peak, the network handled 3.8 billion transactions, surpassing Ethereum, Polygon, Arbitrum, and Avalanche combined.

This dominance underscores Solana’s unmatched scalability and efficiency, making it the most active blockchain by transaction count. Sustained throughput reinforces its potential for wider adoption across decentralised finance and Web3 applications.

Transaction strength also aligns with broader market interest, as institutional moves coincide with high on-chain demand.

Price Holds Key Support Ahead of ETF Decision

Solana trades near $218.74, consolidating after a strong week of gains above the critical $210 support level. Recent rallies delivered over 20% advances, confirming buyers step in quickly after each pullback.

Short-term charts suggest possible corrections, yet upside targets remain at $220–$225 if buyers maintain momentum. Holding above $210 is essential to avoid deeper retracements toward $200.

Market focus also shifts to October’s regulatory decisions on a Solana Spot ETF, scheduled for October 10. This decision, alongside a broader bullish Q4 history, may influence retail inflows.

September has historically delivered strong cycles for Solana, with projections suggesting a possible breakout toward $2,000 if momentum sustains. Current whale accumulation and on-chain dominance reinforce this long-term potential.