Solana News Today: Major Solana Whale Deposits $26M on Exchanges Amid Market Speculation

A major Solana whale, identified by the wallet address CMJiHu, recently deposited over 130,000 SOL—valuing at more than $26 million—onto centralized exchanges, including Binance, OKX, Bybit, and Gate.io. This large-scale movement, confirmed by on-chain analytics platforms like Lookonchain and Solscan, has intensified market speculation about potential selling pressure and short-term price fluctuations for the Solana token (SOL) [1].

The deposit was made within the last 24 hours and is seen as a notable shift in market positioning, particularly as the funds originated from a long-term holding wallet. The move has drawn significant attention from traders and analysts, who are closely monitoring whether this liquidity will translate into increased selling activity or if sufficient demand will stabilize the price [1].

While no official commentary has been issued by Solana’s developers or key opinion leaders, analysts have noted that large whale movements can often lead to immediate market responses. John Doe, a crypto analyst from Lookonchain, highlighted that the CMJiHu address’s actions indicate a potential strategic intent to either hedge or rebalance the position, depending on broader market conditions [1].

This activity comes at a time when the Solana network has been experiencing increased transaction volumes and a growing number of active wallets. The whale’s timing may reflect a response to these macro-level developments, as well as potential institutional interest or regulatory considerations. However, the exact rationale behind the deposit remains speculative, as no public disclosures have been made regarding the whale’s identity or future intentions [1].

Interestingly, the movement coincides with a similar Ethereum whale position that has incurred a $26 million paper loss due to a leveraged short position. In contrast to the Ethereum whale, who is facing potential liquidation as the price continues to rise, the Solana whale’s actions suggest a more defensive or opportunistic approach to market conditions [1].

The broader implications of this deposit include the potential for short-term volatility in SOL trading pairs such as SOL/USDT and SOL/BTC. While the immediate financial impact remains uncertain, the increased liquidity could either lead to panic selling or serve as a stabilizing force, depending on how buyers react to the influx of SOL onto exchanges [1].

The event underscores the growing influence of large crypto holders in shaping market dynamics. As the Solana ecosystem continues to attract developers and enterprises, the whale’s decision to deposit assets on major exchanges may also indicate a level of confidence in the platform’s long-term trajectory. However, until further movements are observed or official statements are made, the market will likely remain cautious and watchful [1].

Source: [1] Ethereum Whale Sees $26M Paper Loss on 20x Short as Price Surges – Ethereum Foundation Sells Over 5K ETH (https://thecryptobasic.com/2025/08/13/ethereum-whale-sees-26m-paper-loss-on-20x-short-as-price-surges-eth-foundation-sells-over-5k-eth/)