Solana Whales Unstake Nearly $1 Billion Tokens – Will SOL Price Crash?

Solana price faces crash possibility as whales move $516M SOL to Coinbase Prime after its 15% recovery today. Will it crash?
By Pooja Khardia
Updated: 01 Mar, 2025 | 10:51:01 AM GMT
Solana Whales Unstake Nearly $1 Billion Tokens – Will SOL Price Crash?

Highlights

  • Solana whales have unstaken $810M worth of SOL at the current price and deposited $516M on Coinbase Prime.
  • The SOL price might crash to $100 or lower if selling pressure builds amid the whale sell-off and token unlocks.
  • Whales might profit with a sell-off over Solana's 15% recovery today.

Solana (SOL) has been making waves in the crypto market due to its high demand, price rallies, and some downtrends. Recently, altcoin faced one of the biggest declines in the broader crypto market crash. More is at risk, with whales unstaking $1 billion SOL and moving nearly half of them to the Coinbase Prime exchange, raising fears of a potential sell-off. With it already facing resistance, let’s discuss the potential impact of this massive whale activity.

Advertisement
Advertisement

Whale Transfers Shake Solana Market Amid Price Recovery

Amid the broader crypto market downturn, the Solana price crashed to a multiple-month low of $126.11. With a 15% recovery over the last 24 hours, investors are eyeing a recovery, especially given the rising investor interest and high open interest of $4.63B per Coinglass data.

SOL Price

However, the on-chain data reveals that whales were constantly on the move earlier for buying the dip and now for the profits. Recently, one Solana whale bought $14 million worth of SOL, withdrawing it from Binance and staking the tokens. However, other whales are on the opposite side, eyeing a profit on the recent recovery.

This is because the on-chain data analytics revealed several large transactions of whales moving SOL to the Coinbase Prime exchange.

Solana Whales

This includes five whale accounts unstaking 5.52M SOL, worth $810M, and depositing $516M to the Coinbase Prime, fueling speculation that major whales are looking to offload their holding.

This move can either take profit or hedge against a potential downturn as $2.06 billion worth of token unlocks to happen today.

Advertisement
Advertisement

Solana Price Under Pressure: Will It Crash?

The Solana whale transactions indicate that a potential sell-off might take place. More importantly, this could build selling pressure as the SOL price struggles to recover. Such selling can also introduce downward pressure, resulting in further declines.

Additionally, the FTX distribution would add 2.2% supply (more than $1 billion SOL) to the Solana network, making it one of the biggest unlocks. Such events increase the liquidity of the token, impacting the price on a short-term basis. More unlocks are expected in the upcoming months, so the price can face turbulence.

However, as the trading volume is 28% up to $6.4B and OI surged, this indicates investors building confidence. More importantly, it is unclear when the whale will sell, so that the impact may vary significantly.

Advertisement
Advertisement

Key Levels to Watch

Despite a significant recovery, the Solana price is struggling to maintain its bullish momentum. At the time of writing, it hovers around crucial support levels, trading at $143.91 with a market capitalization of $72.98B.

The whale moves are building selling pressure around the token, and if this pressure intensifies, the price could drop to the $100 psychological level.

The SOL price might crash to $70 in the worst-case scenario. In contrast, it might surge to $180 if the buyers stepped in. Therefore, $180.28, $201.47, and $206.75 are key resistance levels to watch.

Solana price pediction

Bottom Line

With the recent market crash, the whale activity is in its prime, either for buying the dip or taking the most profit. Five Solana whales also unstaked and deposited $516M of SOL tokens on an exchange. The SOL price might witness a temperory downtrend if they sold these due to increased selling pressure.

Investors must monitor the whale movement, SOL token unlocks, and the key support level for better Solana price prediction analysis.

Advertisement

Frequently Asked Questions (FAQs)

1. Why is Solana facing selling pressure?

Solana is attempting to recover after its recent crash, but the whales moving millions of SOL tokens to the exchange are putting selling pressure on the token.

2. Why can Solana price crash to $75?

The Solana price might crash with the whale looking for a potential sell-off and $2 billion SOL unlockings with FTX repayment.

3. How is SOL trading today?

SOL is currently trading at $143.91, with a market capitalization of $72.98B. It could crash to $75 amid a whale sell-off and the unlocking of the Solana token.
Pooja Khardia
Pooja Khardia is a seasoned crypto content writer with 6+ years of experience in writing, including in blockchain, cryptocurrency, DeFi, and digital finance reporting. In her adventure journey, she is currently working with CoinGape Media and leading their Trending Section. Here, she uses her expertise to deliver analytics, market insights, price predictions, and information on what’s trending in the crypto space, aiming to keep the crypto and web3 community updated with market trends and important insights. Known for a user-centric and straightforward writing style, Pooja is passionate about making crypto easy and accessible. Her writing blends market research with storytelling, helping readers stay ahead in a fast-paced industry. When not behind the keyboard, Pooja embraces her creative side through drawing and crafting. Connect with Pooja on LinkedIn or X.
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.