Solana (SOL) is facing increased market pressure after reports surfaced about Binance selling its SOL holdings. The news, first shared by Crypto Beast on February 25, 2025, quickly gained traction, triggering a sharp Solana price drop of over 8% in the past 24 hours.
As SOL struggles to hold key support levels, traders and investors are closely watching for further price movements.
Solana’s Price Action and Market Impact
Following the viral post on X (formerly Twitter), SOL’s trading volume surged by 130%, reflecting heightened market activity. Despite this, the token has dropped to $143, raising concerns about a deeper decline.
📉 Key Support Levels to Watch:
🔹 If SOL closes below $120, a 35% decline could follow, bringing the next major support level down to $75.
🔹 However, a rebound above $150 could spark renewed bullish momentum.
$200 Million SOL Outflow Suggests Accumulation
Despite the Solana price drop, on-chain data from Coinglass reveals that nearly $200 million worth of SOL has exited exchanges in the past 48 hours.
🚀 What Does This Mean?
🔹 A large outflow usually signals investor accumulation, which can create buying pressure.
🔹 However, current market sentiment remains bearish, making a short-term rally uncertain.
What’s Next for Solana?
The Solana price drop has sparked intense speculation. While some investors see a buying opportunity, others remain cautious amid the ongoing Binance sell-off.
If SOL can hold above key support levels, it may regain strength. Otherwise, a deeper correction could be on the horizon.
