- A $510M whale move to Binance adds pressure to Solana’s already volatile market.
- While whale transfers suggest profit, others consider it as an investment buy signal.
- FTX’s unlock of $1.57B in SOL tokens could intensify selling pressure on Solana.
The Solana network experienced substantial market volatility as an immense whale trade occurred while FTX’s bankrupt assets prepared to hit the market. These recent events have generated market uncertainties that threaten both the short-term price movement and the long-term market stability of the SOL price.
Impact of Whale Movement on Solana’s Price
A wallet with an unknown identity performed a $510 million SOL transfer of 3,001,434 to Binance on March 2, 2025. After this enormous wallet transaction, market analysts have started discussing the possible price effects on Solana. Whale movements suggest shifts in market sentiment that prompt some analysts to believe such transfers represent profit harvesting, but other analysts interpret these actions as institutional buying signals.
This whale transaction impacts market price, suggesting increased SOL market volatility. A large-scale selling operation indicated by the token transfer could decrease Solana’s price values. Institutional buying of assets may indicate future price increases, however, it depends on market circumstances.
FTX Token Unlocks Add Further Uncertainty for Solana
In addition to the whale movement, the release of 11.2 million SOL tokens worth $1.57 billion through the FTX exchange for bankruptcy proceedings will further intensify Solana’s price instability. The released tokens amount to 2.2% of the total Solana supply, leading several market participants to raise caution about potential supply surplus pressures.
The token release is critical because major companies such as Galaxy Digital, Pantera Capital, and Figure bought their tokens through earlier discounted auctions. Token holders’ liquidation activity can worsen existing market selling pressure. Some analysts support Solana’s future growth prospects while others wait for the market to stabilize after these tokens unlock.
Key Price Levels and Market Outlook for Solana
On March 3rd, 2025, Solana (SOL) maintained a trading value of $159.02 with a one-day increase of 11.35%. Recent price movements indicate volatility remains strong since SOL dropped by 3.56% during the last 4 hours.
Source: TradingView
The price data showcases essential support areas at $158.88 and $178.79. SOL can rebound if it maintains a position above $158.88 and $178.79 which could push its value toward $190.00. However, the price may extend its decline to hit $150.00 or fall into lower levels when support fails alongside escalating sell-off activity.
Market participants should keep track of upcoming events such as token unlocks and significant holder actions, as these developments will affect SOL prices. Solana’s ability to overcome these obstacles depends on the market’s performance, ecosystem development, and institutional investor participation.
