Solana has been under increasing pressure recently and has experienced significant fluctuations. One whale sold more than 100,000 SOL to Binance, triggering a selling panic. Historical experience shows that the movement of such large amounts of assets to centralized exchanges often heralds a wave of selling, making the market worried.
To make matters worse, FTX and Alameda Research-related wallets also unlocked nearly 180,000 SOL. Their past behavior patterns point to transfers to exchanges, and the market is worried about a new round of selling storm. In particular, the wallet made two large-scale transfers of SOL to Coinbase during the year, totaling nearly 100 million U.S. dollars, exacerbating market uneasiness.
However, it is not entirely pessimistic. Some whales have expressed their support through actions. For example, in September, a whale spent US$4.52 million to purchase SOL, demonstrating its confidence in the long-term value of Solana. Market sentiment is complex and changeable.
In short, the Solana market is choppy, and frequent operations by big funds have led to turbulent situations. The movements of entities such as FTX are worrying, but active buying also brings a glimmer of hope. Investors need to keenly capture the dynamics on the chain and carefully evaluate the power game among multiple parties to formulate wise investment strategies. The future direction of Solana will depend on this battle for balance of power.
