The crypto market began a positive start on July 7, 2025, but prices for major cryptocurrencies, including Solana, were seen to move into the red zone later that day.
At the time, on-chain surveillance company Whale Alert discovered a mysterious whale moving a large amount of SOL into Coinbase, a massive amount of US crypto exchange.
According to data shared by the source, the large cryptotransfer included 586,233 large Sols worth a total of $88,985,275. This move, which took place while the wider crypto market was experiencing mixed-price behavior, has fueled discussion among commentators.
Thousands of Solana tokens were sent at once via a single transaction, but the source revealed that they could not identify the sender. Therefore, the token was sent from an unknown wallet to Coinbase, raising doubts about a potential sale.
The move has sparked concern among the crypto community as it becomes interested in the reasons behind such a big move amid the falling trend of prices.
The destination of the transfer is known worldwide worldwide, but the motivation behind the large-scale saw transfer remains unknown.
Cryptocurrencies are transferred to such major exchanges, often due to attempts to sell by well-known investors and institutions, but some market watchers believe there may be exceptions to this latest whale movement.
In the lively debate about the unexpected whale movement seen today, some commentators suggest that the whale movement may be related to internal finance restructuring, third party custody, or institutional staking.
What’s next for Sol?
Solana’s mixed price movement today has seen integrations below the $154 resistance level. The token continues to gain momentum as it shows signs of a potential breakout forward.
The token has moved into the red zone today after trading more vigorously, but its funding rate is positive, with its open profits continuing to rise, indicating a surge in its price and a potential breakout soon.
Token shows a small price of 1% on the last day, but according to CoinmarketCap data, it is trading steadily at $150.32 as of press time.
This negative price transfer, consistent with a 37% spike in token trading volume, suggests an increase in selling activity between holders. This is evident in the massive amounts of Sol Tokens previously discarded at Coinbase.
