Solana Faces Deadly Selling Pressure After 312,233 SOL Deposit Into Coinbase – Here’s The Value
Solana (SOL) buyers are witnessing rising volatility as a surge in whale exercise indicators lethal selling pressure in the market. Despite a powerful rally above $250 earlier in September, market sentiment seems to be shifting, with whale deposits into centralized exchanges hinting at potential headwinds forward. Most lately, a staggering 312,233 SOL tokens had been deposited into Coinbase, fueling considerations that whales could also be positioning for important profit-taking.
Solana Whale Deposits Signal Rising Selling Pressure
Blockchain tracker Whale Alert reported one of many largest Solana transfers in current weeks, with 312,233 SOL valued at roughly $75.1 million, moved from an unknown pockets to Coinbase Institutional on September 21. The dimension and timing of this large-scale switch instantly raised concerns that whales might be positioned to promote.
Before this switch, Whale Alert had flagged one other huge transaction of 227,928 SOL, price round $54.5 million, being funneled into Coinbase on the identical day. Together, these two deposits symbolize greater than $129 million in Solana probably at stake of being bought off.
The implications of such strikes are important, as massive holders usually send tokens to exchanges with the intention to sell, finally including appreciable downward stress to the market. Notably, Solana’s price rally in September has been fueled by robust demand; nevertheless, these current transfers elevate the chance of oversupply, notably because the token hovers round $224. If whales observe by way of with the promoting, it may cap SOL’s bullish breakout try and power the worth again to lower support zones.
Interestingly, this isn’t the primary time Solana has confronted comparable whale-driven headwinds this month. Just over per week in the past, blockchain analytics platform Lookonchain reported a number of whale dumpings into numerous crypto exchanges. A pockets tagged “CMJiHu” deposited 96,996 SOL ($17.45 million) into Coinbase, whereas “5PjMxa” moved 91,890 SOL ($15.98 million) to Kraken. The similar day, one other pockets “HiN7sS” transferred 37,658 SOL ($6.73 million) to Binance, securing a revenue of $1.63 million. These earlier transfers, mixed with the most recent inflows, present a sample of whales steadily reducing their exposure as market sentiment shifts.
SOL Momentum Weakens Under Heavy Selling
Crypto analysts now view Solana as being at a pivotal crossroad, the place strong fundamentals conflict with mounting promoting stress and technical dangers. Market professional Tom Tucker notes that SOL has climbed greater than 150% in 2025, however its rally is exhibiting indicators of fatigue. The analyst’s chart reveals a rising wedge formation, usually a precursor to a breakdown, mixed with weakening momentum indicators.
The Relative Strength Index (RSI) is narrowing right into a triangle, suggesting indecision, whereas the MACD has flattened after months of power. This setup, when paired with heavy whale deposits into exchanges and rising promote stress, underscores the rising possibility of a short-term pullback.
Yet, the outlook isn’t fully bearish. Tucker factors to optimism surrounding a possible Solana ETF, the upcoming Alpenglow upgrade, and regular treasury accumulation as elementary drivers that might lengthen SOL’s long-term progress.