Coinspeaker
Sep 29, 2025
5 0

Solana Whales Sell $31.5 Million SOL as ETF Approval Nears

Solana's (SOL) price has increased by 3.76%, currently trading at $208, following a broader crypto market rally. However, Solana whales are selling off during each minor price rise, with a whale selling $31.6 million worth of SOL recently.

Key Points on Solana Price Movements

  • A large investor sold 150K SOL, valued at approximately $31.6 million.
  • Investors remain uncertain due to strong price volatility; SOL recently closed at $208.81.
  • Support level at $193.52 is crucial; a break below could lead to further declines to $184.13.

SOL price tests key support levels | Source: TradingView

Upcoming Solana ETF Developments

  • The US SEC is expected to decide on spot Solana ETF applications in October.
  • This approval may increase institutional participation and regulated access to staking yields.

Institutional interest in Solana is growing, with Forward Industries holding over 6.8 million SOL, and treasury firms collectively possessing more than 20.9 million SOL, representing about 3.64% of the circulating supply.