Large-scale institutional transfer from exchanges: Over 413,075 units of Solana (SOL) shifted in a brief period
In the dynamic world of cryptocurrencies, Solana (SOL) is making headlines with its recent surge and the increasing involvement of institutional investors.
Over the past eight hours, a significant player, FalconX, has withdrawn 413,075 SOL, worth approximately $98.4 million, from major exchanges. This move, primarily moving these funds off exchanges, suggests accumulation rather than immediate reinvestment elsewhere. The institution is likely holding the tokens for custody, staking, or long-term holding, rather than short-term trading.
This potential accumulation by FalconX indicates a growing interest in Solana among institutions, a trend that has been ongoing since the cryptocurrency surged more than 50% since August, reaching the $248 level.
The daily chart shows SOL now trading at $236, consolidating after the sharp rally. The uptrend remains intact, with the 50-day SMA ($197) and 100-day SMA ($178) trending upward, acting as solid dynamic support for Solana. The 200-day SMA at $161 is far below current levels, confirming the strength of the long-term bullish structure for Solana.
Large-scale withdrawals by institutions are often interpreted as a signal of accumulation, and in this case, it's no different. The combination of institutional buying and the Federal Reserve's decision creates a high-stakes backdrop that could define Solana's trajectory well into year-end.
The Federal Reserve's decision on interest rates, scheduled for later today, will influence risk sentiment across global markets and shape liquidity conditions for months to come.
The recent slowdown near $240 suggests that the market is encountering resistance, with bulls needing to push through this level decisively to open the door toward a potential retest of $300. A rejection at $240 could trigger a short-term pullback toward $220 or even the $200-$210 area, where the moving averages cluster, offering strong support for continuation.
Analysts are predicting a possible massive surge in Solana's price in the coming weeks, with the surge in Solana's price reaffirming bullish sentiment across the market. Bulls appear firmly in control as Solana consolidates its gains at higher levels.
Fresh data from Lookonchain reveals significant institutional activity in the Solana market, adding weight to the notion that institutions are moving into Solana for the long haul. This institutional accumulation could reduce the immediate liquidity available for trading, potentially fueling upward price pressure if demand continues to rise.
In conclusion, the combination of technical strength and increasing institutional participation is driving the predicted surge in Solana's price. As the market watches for the Federal Reserve's decision on interest rates, the stage is set for an exciting few weeks in the world of Solana.
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