Solana price faces a challenging period as large investors continue dumping their holdings while technical analysts eye a potential breakout.
Three major whale wallets moved over 226,000 SOL to exchanges recently. The combined value reached approximately $40 million.
Blockchain analytics firm Lookonchain tracked these movements. CMJiHu deposited 96,996 SOL worth around $17.45 million to exchanges.
Whales seem to be selling $SOL.
CMJiHu deposited 96,996 $SOL($17.45M) to exchanges 9 hours ago.
5PjMxa deposited 91,890 $SOL($15.98M) to #Kraken 3 hours ago.
HiN7sS deposited 37,658 $SOL($6.73M) to #Binance 8 hours ago for a profit of $1.63M.https://t.co/SjYyx112xa… pic.twitter.com/6A22shhpe8
— Lookonchain (@lookonchain) August 12, 2025
5PjMxa deposited 91,890 SOL valued at nearly $15.98 million to Kraken. HiN7sS transferred 37,658 SOL worth $6.73 million to Binance, making a profit of $1.63 million.
The selling pattern continues from previous weeks. Galaxy Digital moved 224,000 SOL valued at $41.12 million to Binance and Coinbase over the weekend.
Last week, the digital asset financial services firm unstaked 250,000 SOL valued at around $40.7 million. They transferred it directly to Binance.
The REX Osprey Solana exchange-traded fund shows weak investor interest. Data from Farside Investors reveals the ETF recorded zero net flows for most August trading sessions.
Only one day showed positive flow during the month. This lack of institutional demand adds pressure to SOL’s price performance.
Solana price currently trades at $175.64, down 5.49% over the past day. The altcoin remains 40% below its all-time high despite recent market recovery.
Other cryptocurrencies like Ethereum have experienced strong rallies. ETH reached price levels not seen since 2021 during its latest uptrend.
Trading volume for SOL rose 10.61% to $28.16 billion, showing continued market interest. The market capitalization stands at $94.21 billion.
Over the past week, SOL gained 3.34% despite daily declines. The mixed signals reflect broader uncertainty around the token’s direction.
Crypto analyst Ali identifies $189 as a critical resistance level for SOL. A breakout above this price could trigger buying pressure from speculators.
Once Solana $SOL breaks above $189, there’s little stopping it from charging to new all-time highs! pic.twitter.com/on8aLyDpKO
— Ali (@ali_charts) August 10, 2025
This level has acted as rigid resistance in recent trading. Breaking through could signal a shift in market sentiment toward the upside.
If SOL clears $189, it might target new all-time highs. This would provide substantial profit opportunities for positioned investors.
Solana’s open interest dropped slightly by 2.89% to $9.56 billion. However, the OI-weighted rate stands at 0.0069%, suggesting continued market activity.
Despite whale selling pressure, some positive developments support Solana’s ecosystem. OSL HK announced it will become the first Hong Kong exchange offering SOL retail trading.
Jeff Bezos’ Blue Origin began accepting SOL for spaceflight bookings. The company now accepts Bitcoin, Ethereum, Tether, and USDC alongside SOL.
Alex Wilson from Shift4 expects crypto payments to grow for high-end purchases. Both consumers and merchants benefit financially from these transactions.
The Solana ecosystem reached a milestone with meme token graduation rates surpassing 3%. This reflects increased network activity and user engagement.
Current trading data shows SOL down 4.8% over 24 hours at $174.59.
The post Solana (SOL) Price Prediction: Whales Move $40 Million to Exchanges Before CPI Inflation Report appeared first on CoinCentral.
