Potential Risks for Solana as Whale Sell-Offs and Unstaking Create $170 Support Focus
Main Idea
Solana (SOL) faces significant selling pressure due to whale sell-offs and Alameda's unstaking of $35 million worth of SOL, making the $170 support level critical for its market stability.
Key Points
1. Alameda unstaked $35 million worth of SOL, raising concerns about distribution risks and market pressure.
2. Over 226,000 SOL were moved to exchanges by whales, indicating increased selling pressure.
3. The $170 support level is pivotal for Solana's price stability; failure to maintain it could lead to further declines.
4. Whale sell-offs, including a $17.2 million transaction, often precede price declines, adding to market volatility.
5. Despite the sell-offs, SOL shows buyer resilience amid recent market fluctuations.
Description
Solana (SOL) has recently faced strong whale sell-offs and an important unstaking event from Alameda, making the $170 support level critical for future price stability. Heavy whale selling pressure: Whales
Latest News
- SEC ACKNOWLEDGES FILING FOR INVESCO GALAXY SPOT SOLANA ETF2025-08-13 20:23:51
- U.S. GOVERNMENT’S ANNOUNCEMENT ON PHARMA SECTOR PROBE AND TARIFFS UNLIKELY FOR A FEW WEEKS, SOURCES SAY2025-08-13 20:10:21
- COINBASE: Coinbase will add support for WalletConnect Token (WCT) on the Optimism network.2025-08-13 20:03:40
- METAMASK SET TO ANNOUNCE mUSD STABLECOIN THIS WEEK, LAUNCHING LATER THIS MONTH WITH STRIPE-BACKED BRIDGE AND BLACKSTONE TREASURY SUPPORT:2025-08-13 19:42:00
- Ethereum Surpasses Netflix in Market Cap, Approaches 2021 All-Time High Amid Positive Market Trends2025-08-13 18:45:09