- Whale EvBsWC has moved 749,599 Solana worth $116.36M to Binance throughout 2025.
- Solana’s daily active addresses reached a record 15.55M after a period of flat network usage.
- Development activity experienced a slight rebound, reaching a high of 18.83 in recent sessions.
A major Solana whale, identified as wallet EvBsWC, has deposited 66,330 SOL, valued at approximately $9.94 million, to Binance after unstaking the tokens, according to blockchain data from Lookonchain. This deposit adds to a broader trend observed in 2025. Since the start of the year, the same wallet has transferred a total of 749,599 SOL to Binance, representing a cumulative value of approximately $116.36 million. The Solscan chart reveals a consistent pattern of large unstake-and-transfer operations.
All assets were sent to Binance shortly after unstaking, indicating intentional positioning for potential selling. This behavior strongly suggests sustained sell-side pressure from this high-volume player. If continued, such movements could trigger price volatility or short-term dips in SOL’s market performance.
Short-term Depreciation Risk
Rising SOL inflows to Binance, led by whales like wallet EvBsWC, signal growing short-term sell pressure that could limit SOL’s ability to break above resistance levels. Historically, spikes in whale deposits have preceded pullbacks into support zones between $110 and $130. Analysts suggest a short-term correction is likely before any sustained move higher.
EvBsWC’s recent deposit of 66,000 SOL adds to a broader trend of whale-driven selling in 2025. With over $116 million in SOL transferred to Binance so far, the risk of a market dip, or even a temporary downtrend, appears elevated in the near term.
Investor Watchpoints and Support Levels
Investors and traders should monitor exchange inflows and watch for continued large SOL deposits, as persistently high inflow rates often lead to price declines. Investors should also track price support levels if SOL dips; key zones like $130, $120, and $110 may offer buying opportunities.
EvBsWC’s recent activity indicates a sell-zone setup for SOL, driven by large investor behavior. Unless counterbalanced by accumulation from other whales or institutional buyers, SOL is likely to experience continued volatility, with a bias toward short-term downside pressure.
Related: The First Spot Solana Staking ETF Hits $33M in Trading Volume on Day One
Solana Sees Spike in On-Chain Activity
Solana (SOL) has entered a crucial zone, with metrics flashing warnings of strange behavior by the network, according to on-chain data from Santiment. At press time, SOL is trading at $153, slightly recouping losses from the recent lows. However, what stands out unmistakably is the daily active addresses that exploded to an all-time high of 15.37 million on July 8 and are now at 15.09 million. Meanwhile, development activity increased to 18.83, a recovery following a steady decline in activity since mid-May.
Hence, while user activity has been increasing rapidly, prices are behaving cautiously, likely due to known selling pressures exerted by whales. Daily active addresses stayed relatively tame from March to June, before they spiked to the level of over 15 million. This huge surge may either be an organic increase in users or wholesale bot-driven network interaction.
It is important to note that as users’ activity increases, the price becomes more reserved, possibly due to known pressure to sell from whales. As previously reported, whale EvBsWC transferred 66,330 SOL ($9.94M) to Binance, contributing to a total of 749,599 SOL ($116.36M) offloaded in 2025, further reinforcing short-term caution for SOL bulls.
