The whale unstaked 60,289 SOL tokens, selling them for 7.67 million USD (in USDC) at a price of $127 per token.
immediate price action. Is this large sale an indicator of a potential downturn, or could it be a strategic move before a larger market rally?Despite this whale activity, Solana’s network is showing robust growth. The network recently surpassed an all-time high of 11.12 million addresses holding at least 0.1 SOL.It reflects the increasing involvement of retail investors and developers, which could provide long-term support for the network.
This figure suggests that there is a neutral stance in the market, with no overwhelming bias towards long or short positions. Therefore, the market remains uncertain, waiting for more signals from the price action and broader market trends before committing to a clear direction.The recent whale sale of 60,289 SOL tokens may have sparked concerns about Solana’s short-term outlook. However, the network’s growth, alongside the retesting of key support, suggests that SOL is still in a healthy position.
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