Solana (SOL) price broke a record by exceeding $260. This rise was supported by large-scale whale purchases and staking transactions. Large amounts of SOL withdrawals made via Binance led to a decrease in the circulating supply, reinforcing the price increase. Experts say that these developments could keep Solana’s price strong in the short to medium term.$SOL
In recent days, Solana’s price has reached a significant peak, exceeding $260, driven by whale purchases. Whales who purchase large amounts of SOL have staked their coins, reducing the supply. According to Lookonchain’s data, in the last two days, a whale has purchased and staked 100,000 SOL (worth approximately $23.86 million). With this transaction, the whale’s total SOL holdings have increased to 231,919 units (approximately $55.58 million). These large stake transactions reduce the circulating supply, supporting the price increase.
In addition, another new wallet address withdrew 42,443 SOL (worth around $11.14 million) from the Binance exchange today. Such large withdrawals and staking transactions indicate that investors are looking for a long-term solution. This activity on Solana reflects the growing trust in the ecosystem and the interest in Solana.
Could the Price Rise Continue? What's Next?
Solana’s new peak, exceeding $260, has further increased investors’ interest. This rise was influenced by the supply decrease caused by staking transactions as well as the large purchases of whales. High amounts of SOL withdrawals from major exchanges such as Binance positively affect the supply-demand balance, putting pressure on the price.
Experts predict that such moves could bring Solana to a point where it will attract more investors. The ongoing purchases of whales support the price to remain strong in the short and medium term. These developments, especially for Solana in the cryptocurrency market, are being watched carefully by investors.
