Solana (SOL) has reached record transaction numbers and total value locked, yet major holders are selling off their assets. Galaxy Digital recently unstaked and moved 250,000 SOL, valued at 40.7 million USD, to Binance, reflecting rising sell pressure amid strong on-chain performance.
Despite its impressive activity, Solana’s price has declined by nearly 30% year-to-date as competition from Hyperliquid DEX grows. This downturn raises concerns among investors, even as certain whales continue to show interest by buying.
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