Solana News Today: Solana Whale Deposits 108,016 SOL as Price Nears Key $160 Support Zone

A major Solana whale, identified by the address KMhcqN, has deposited 108,016 SOL—valued at approximately $17.74 million—into OKX and Binance within an eight-hour period, as reported by on-chain analytics firm Lookonchain [1]. This move follows a 20% price decline for SOL, raising questions about the stability of the cryptocurrency market and investor sentiment. The whale previously withdrew 164,000 SOL since July 8, 2025, and staked it, potentially reducing the circulating supply and impacting price dynamics [1].

Historically, such whale activity often precedes market volatility, with large holders frequently front-running price movements [1]. The current price of Solana is hovering near $164, which some analysts identify as a critical support zone between $160 and $165 [1]. Neural Degen, a prominent analyst on X, notes that this deposit could indicate either profit-taking or a strategic repositioning. This interpretation gains weight given the network’s documented outages in 2025, which have affected investor confidence [1].

The broader debate around Solana’s tokenomics remains active. As of now, Solana’s annual inflation rate stands at 4.384%, with a scheduled 15% reduction per epoch-year [1]. The actions of large holders, like the whale in question, are often closely watched by retail investors, who may interpret such movements as bearish signals. A recent article from The Coin Republic emphasizes that whale sales have historically signaled downward trends in the crypto market [1].

Public sentiment on X is divided, with some users urging caution and a closer look at liquidity flows, while others express alarm over potential market deterioration. The timing of the deposit, coming amid concerns over network reliability, has intensified the debate over whether this is a sign of a sell-off or a calculated move [1]. With Solana’s market capitalization currently at $80 billion, such whale activity, while routine, remains influential.

Technical analysts are also weighing in. CryptoPulse, for example, highlights that Solana has entered a predicted buy zone of $160–$170, aligning with real-time data from CoinMarketCap showing the price at $163.86 [1]. This level is seen as a potential springboard for further upward movement, with some analysts aiming for a target of $250 or higher. This bullish outlook contrasts with the cautionary tone of others who cite whale-alert.io’s historical data showing that profit-taking ratios above 1 often precede price corrections [1].

The event highlights the intricate relationship between whale behavior, network health, and investor psychology—key factors shaping Solana’s volatile trajectory in the crypto space [1].

Sources:

[1] Whale Moves Shake Solana: 108,016 SOL Deposited in 8 Hours (https://coinmarketcap.com/community/articles/688df0af68cc6762938d9dea/)