Solana News Today: Whale Buying and Institutional Staking Push Solana Toward $200 Despite 10% Weekly Drop

Large investors, or "whales," are continuing to accumulate Solana (SOL) at discounted levels amid the recent market downturn, with some analysts suggesting this buying pressure could eventually support a price move toward $200. On-chain data reveals that a whale recently purchased $12 million worth of SOL through Binance and staked the tokens, coinciding with a 5% price increase to $171 [1]. This activity reflects growing confidence in Solana’s long-term potential, particularly as institutional buyers and companies expand their participation in the ecosystem [2].

Several firms have also increased their Solana holdings, contributing to a broader trend of corporate adoption. Upexi Treasury, for instance, has become one of the largest holders of SOL, with over 2 million tokens valued at around $334 million. The company raised $200 million in July and purchased 1.26 million SOL, and more recently secured a $500 million equity line to acquire more of the asset [1]. Similarly, DeFi Development Corp (DFDV) added 110,466 SOL for $18.4 million, with the average purchase price at approximately $166. DFDV now holds a total portfolio worth over $216 million and has allocated its SOL across multiple validators [1].

Public companies are also entering the market. Bit Mining, listed on the NYSE as BTCM, purchased 27,191 SOL for about $4.89 million and has launched its first Solana validator. The move aligns with an earlier plan to raise up to $300 million for Solana-related expansion [1]. These developments indicate that firms are not only buying and holding but are also actively participating in the network through staking and validator operations, which could enhance decentralization and provide steady returns [1].

Despite these bullish signals, Solana’s price has struggled in recent weeks, falling nearly 10% over the past seven days. The token has also underperformed compared to its Layer 1 competitors, with the SOL/ETH ratio declining by 25% in the last month—the worst monthly performance since 2022 [1]. This underperformance is attributed in part to broader market deleveraging, with over $4 billion in open interest outflows across the crypto space, and macroeconomic concerns including U.S. tariff plans and Federal Reserve signals weighing on sentiment [1].

Long-term holders have, however, shown resilience, with their positions growing by 102% between July 30 and August 4 [2]. Meanwhile, the Realized Profit/Loss Ratio indicates a decline in selling pressure, suggesting the potential for a market bottom to form [3]. Analysts remain divided on Solana’s near-term trajectory, with some forecasting a return to $200 if confidence rebounds, while others caution against further drawdowns [6].

In addition to institutional interest, Solana Mobile has announced that its Seekers devices are now shipping to over 50 countries, marking a significant step in the project’s push into mobile technology [1]. While it is still early to assess the impact of this move on the price, increased product adoption could contribute to higher network activity and user confidence.

Some analysts have made more aggressive projections, with one suggesting that Solana could reach $500 within three months based on on-chain fundamentals [6]. These forecasts, however, remain speculative and are not yet reflected in the token’s current performance. At the time of writing, Solana was trading at $163.66, with treasury growth and whale activity forming a bullish case for a potential return to $200 [1].

The coming weeks will be critical for Solana as it navigates a challenging macroeconomic environment and competing narratives between its strong technical metrics and weak price action. Whether Solana can regain momentum and reclaim its position as a leading Layer 1 blockchain will depend on a range of factors, including market sentiment, institutional adoption, and broader crypto market conditions [5].

Source:

[1] AMBCrypto, https://ambcrypto.com/solana-heres-why-sol-faced-10-weekly-loss-despite-on-chain-growth/

[2] CoinCentral, https://coincentral.com/solana-sol-price-long-term-holders-accumulate-despite-14-weekly-drop/

[3] Mitrade, https://www.mitrade.com/au/insights/news/live-news/article-3-1007844-20250803

[5] 99Bitcoins, https://99bitcoins.com/news/altcoins/live-crypto-news-today-weekend-of-blood-with-btc-falling-to-112k-best-crypto-to-buy-now-as-the-market-bounces-back-up/

[6] Crypto, https://cryptoadventure.com/solana-price-prediction-for-2025-sol-to-hit-500-within-3-months-as-ripple-xrp-and-little-pepe-lilpepe-target-5x-gains/