Solana Price Drops 12% Amid Large Investor Sell-Off

Solana's price has decreased by 12% over the past week, currently at $116. This drop is attributed to large investors, or "whales," selling their holdings, with approximately $46 million worth of SOL tokens unstaked and moved to exchanges.

Major Wallets Involved in Selling

Wallet 'HUJBzd' transferred $30 million worth of SOL.
'BnwZvG' sold $9.47 million in SOL.
'8rWuQ5' moved $3.53 million in SOL.
'2UhUo1' transferred $3 million in SOL.

These transactions typically indicate bearish market sentiment, contributing to a more than 3% decline in SOL's price within 24 hours.

Economic Factors Impacting Market

The broader cryptocurrency market is experiencing volatility due to recent economic policy changes, including US reciprocal tariffs announced by President Trump. Bitcoin price fluctuations are affecting altcoins like Solana, leading to anticipated short-term volatility across the market.

Mixed Market Sentiment

Despite the decline, some analysts maintain an optimistic outlook. Brandon Hong predicts that SOL may break out of its 400-day trading range, suggesting potential for future gains.

Current Market Performance

In the last 30 days, Solana has seen a 15% decrease. The movement reflects overall investor sentiment in the current economic climate. Traders are closely monitoring SOL to see if it follows the bearish trend or experiences a breakout as some predict.