Solana Whales Signal Rebound with $59.3M Accumulation

Solana (SOL) is catching the eye of crypto whales amid a volatile market, with on-chain data revealing significant accumulation that could herald a price rebound. Trading at $174.07 on August 3, 2025, SOL has climbed 2.41% in 24 hours, boasting a $102.43 billion market cap despite a broader crypto downturn (CoinMarketCap). Whale activity suggests growing confidence in Solana’s long-term potential.

On-chain analytics from Lookonchain show a whale accumulating 365,000 SOL ($59.3 million) over three months via FalconX, with 73,500 SOL ($13.83 million) added in the last 24 hours, now staked for passive rewards. This follows Galaxy Digital’s $77 million SOL withdrawal from exchanges since April 14, 2025, signaling institutional bets on Solana’s DeFi and NFT ecosystem (SolanaFloor). Wallets holding 10,000+ SOL rose from 4,943 to 5,019 in a week, per Glassnode, reflecting strategic buying during consolidation.

Solana’s network fundamentals bolster this optimism. It recorded its highest daily revenue since February 2025, with 4.32 million daily active users and 702 million weekly transactions, per Top7ICO. Technical indicators show promise, with the Relative Strength Index at 61.17 and Money Flow Index at 59.57, suggesting moderate bullish momentum. Analysts eye $180-$200 if SOL breaks $150 resistance (TradingView).

However, macro risks, including potential Fed rate hikes and regulatory scrutiny, could delay a breakout, with support at $135 if momentum falters. With Solana’s upgrades and whale confidence, investors are watching for a potential rally, though caution remains key in this volatile market.