According to on-chain analytics platform Lookonchain, a mysterious whale sold a total of approximately 1.02 million SOL over the past five days, worth about $104 million. Deep Tide TechFlow, Odaily, PANews and other outlets successively reposted the on-chain update on October 29 (UTC+8). During the same period, Binance spot $SOL fell below the $100 mark, fluctuating around $99.8 intraday and down about 2.7% over the past 24 hours. The public market price was likewise hovering around $100.
On-chain selling pressure isn’t the only thing weighing on the market. Public reports citing SoSoValue data say that U.S. spot Solana ETFs saw combined net outflows of about $24.82 million on October 27 and 28, U.S. Eastern Time: approximately $19.16 million on the 27th and $5.66 million on the 28th, with nearly all of the latter coming from Bitwise’s BSOL. Cumulative outflows from these funds since the start of October have exceeded the $100 million mark, while $SOL is down about 15% over the past month. The loss of the $100 level, whale selling, and fund redemptions are converging, making the short-term pressure plain to see.
Major cryptocurrencies are broadly defensive: $BTC is still hovering below about $80,000, and $ETH is similarly weak. The Fear and Greed Index is around 51, in neutral territory, but the market’s risk appetite has clearly cooled. Whether the psychological $100 level can be reclaimed soon will depend on whether selling pressure continues to build; if the price can’t hold, it will have to look lower for support. Rely on disclosures and market movements for the rules.
#SOL #行情 #ETF This is not investment advice.
On-chain selling pressure isn’t the only thing weighing on the market. Public reports citing SoSoValue data say that U.S. spot Solana ETFs saw combined net outflows of about $24.82 million on October 27 and 28, U.S. Eastern Time: approximately $19.16 million on the 27th and $5.66 million on the 28th, with nearly all of the latter coming from Bitwise’s BSOL. Cumulative outflows from these funds since the start of October have exceeded the $100 million mark, while $SOL is down about 15% over the past month. The loss of the $100 level, whale selling, and fund redemptions are converging, making the short-term pressure plain to see.
Major cryptocurrencies are broadly defensive: $BTC is still hovering below about $80,000, and $ETH is similarly weak. The Fear and Greed Index is around 51, in neutral territory, but the market’s risk appetite has clearly cooled. Whether the psychological $100 level can be reclaimed soon will depend on whether selling pressure continues to build; if the price can’t hold, it will have to look lower for support. Rely on disclosures and market movements for the rules.
#SOL #行情 #ETF This is not investment advice.
