Solana's Price Surges 18% After Whale Stakes $28.7M

Solana (SOL) is currently trading around $147.31, but recent whale activity suggests a much higher target may be in play. On May 3, 2025, an anonymous whale staked 193,909 SOL—worth approximately $28.7 million—on-chain, as confirmed by Solscan. The transfer came from a crypto exchange and hit a staking address just before 10:00 AM UTC. This high-stakes move ignited a surge in trading volume, which spiked 18% to over $1.2 billion in two hours. SOL’s price swiftly responded, climbing from $164.00 to $165.80, while buy-side pressure intensified on major exchanges. As this unfolded, staking activity across the Solana network jumped by 7%, suggesting growing long-term conviction among large holders.

From a technical standpoint, Solana’s price structure is compressing within a symmetrical triangle, with key support at $146.62 and overhead resistance at $154. This pattern often precedes explosive moves. The MACD is neutral but hinting at a potential crossover. Traders should closely watch for a break and close above $154, which opens up targets at $158.76 and potentially $163.13. A confirmed breakout would likely attract momentum traders, pushing SOL toward its psychological milestone: $200. This setup favors swing traders looking for breakout opportunities with clearly defined risk levels.

Solana’s bullish momentum isn’t just about charts—it’s also about narrative. While the $28.7M stake wasn’t explicitly tied to artificial intelligence, Solana’s infrastructure continues to gain traction among AI developers. Projects like Render (RNDR) and Fetch.ai (FET) saw price and volume gains shortly after the whale move. That interconnection points to a broader dynamic: when a major Layer 1 token like SOL gets institutional attention, the ripple effects often benefit related sectors. Traders exploring AI-aligned altcoins should keep a close eye on Solana-driven momentum.

The combination of whale conviction, on-chain activity, and a bullish technical setup paints a compelling picture for Solana. If SOL breaks $154 with volume, it could sprint toward $163—and possibly challenge $200 in the coming weeks, fueled by rising network demand and macro trends.