Solana (SOL) Holds Key Support as Whales Pull $10M Amid 8× Higher Network Activity

A large Solana (SOL) whale has withdrawn more than $10 million in SOL value from Binance and transferred approximately 80,000 tokens to a private wallet. This type of cryptocurrency transfer might be seen as a positive signal for the potential for SOL to be accumulated, as it was removed from the market.

Source: X

This withdrawal portrays the increasing trend among whales to diversify Solana. Even during the recent price consolidation, whales continue to build Solana. These large holders transferring SOL to other locations show appreciation for the eventual value of the asset, and the decreasing balance on Solana’s exchange reserve indicates the same. Traders are waiting for the start of an upward trend.

Also Read: Solana (SOL) Consolidates Near $140 as Weekly Structure Risks Drop Toward $110

Solana Tops All Chains with 8X More Transactions

However, the data from Solana Sensei highlighted that Solana’s throughput lead proves the network’s ability to handle decentralized applications on a massive scale faster than ever. While other blockchains clog up with congestion, Solana attracts more developers and users who are hunting for efficiency. Solana’s sixth straight month of leadership status has created stiff competition for next-generation blockchains. 

Source: X

As of January 7, the transaction count on the Solana network remains slightly below 90 million after dropping to the 60 million mark in late December. Comparatively, the network activity for other major networks, including the Barachain, OP Mainnet, and Avalanche, held below the 15 million mark, which is 8x lower than the Solana performance.

Solana Key Support Holding Could Spark Explosive Rally

Moreover, the crypto analyst, curb.sol, pointed out that Solana’s SOL token is reaching a very important level of support in the long term and has managed to attract many traders and analysts. Solana’s adoption level in its network, its high speed in transaction processes, and its increasing decentralized apps make it one of the most competitive stocks in the cryptocurrency market this year.

Source: X

Market momentum will play a critical role in determining SOL’s outcome in the next market phase as well. In the event of buyers entering the market and market momentum gaining strength, Solana may break through $1,000 in the year 2026. Despite market volatility in the cryptocurrency market, market fundamentals and market innovations are giving investors cause for cheer.

Also Read: Solana Bulls Target $200–$500 as Network Sees Privacy Upgrade and Wallet Activity