A significant wave of Solana (SOL) has hit centralized exchanges following the largest scheduled unlock of staked tokens until 2028, raising concerns about potential short-term selling pressure.<\/p>\n\n\n\n
On April 4, blockchain analytics platform Onchain Lens<\/strong> reported that 425,266 SOL<\/strong>, valued at approximately $49.78 million<\/strong>, was unstaked. According to Arkham Intelligence<\/strong>, this unlock represents the largest of its kind until 2028. Soon after the unstaking event, 284,147 SOL<\/strong> (worth $33.27 million<\/strong>) was transferred to major centralized exchanges including Binance<\/strong>, Coinbase<\/strong>, and Kraken<\/strong>.<\/p>\n\n\n\n The wallets involved had originally staked their holdings back in April 2021<\/strong>, when Solana traded at significantly lower prices. At current valuations, their investment has grown 5.5x<\/strong>, leading many analysts to speculate that profit-taking could be imminent.<\/p>\n\n\n\n The unlock and subsequent transfer coincide with a weak performance in SOL’s price. Over the past week, Solana has declined 7%<\/strong>, briefly touching $112.24<\/strong>, a key 12-month support level. Currently, the asset is trading near $118.55<\/strong>, as it attempts to rebound.<\/p>\n\n\n\n From a technical standpoint, SOL is testing the $114.34<\/strong> support while facing resistance at $128.79<\/strong>. The next critical resistance level stands at $143.25<\/strong>. Indicators like the Relative Strength Index (RSI)<\/strong> at 43.6<\/strong> suggest that SOL remains in the neutral-to-oversold<\/strong> territory, offering room for potential upside if buying pressure returns. Meanwhile, Bollinger Bands<\/strong> signal a possible recovery as the price hovers near the lower band.<\/p>\n\n\n\n Despite the current volatility, Solana\u2019s network fundamentals remain robust. Since November 2024<\/strong>, the total value locked (TVL)<\/strong> on Solana has nearly doubled<\/strong>, now sitting above 53 million SOL<\/strong>. Additionally, stablecoin activity<\/strong> has surged, jumping from $5 billion in January to $12.6 billion<\/strong> in March, based on DefiLlama<\/strong> data.<\/p>\n\n\n\n However, decentralized finance (DeFi)<\/strong> usage has taken a hit. The DEX volume<\/strong> dropped significantly from $252 billion in January to $52 billion in March<\/strong>, reflecting broader market uncertainties.<\/p>\n\n\n\n The recent $33.27M deposit of unstaked Solana into exchanges could hint at short-term selling activity. However, with solid on-chain fundamentals and a bullish technical structure building up, the long-term outlook for Solana remains promising\u2014provided it holds critical support levels and overcomes near-term resistance.<\/p>\n\n\n\n <\/p>\n","protected":false},"excerpt":{"rendered":" A significant wave of Solana (SOL) has hit centralized exchanges following the largest scheduled unlock of staked tokens until 2028, raising concerns about potential short-term selling pressure. On April 4, blockchain analytics platform Onchain Lens reported that 425,266 SOL, valued at approximately $49.78 million, was unstaked. According to Arkham Intelligence, this unlock represents the largest…<\/p>\n","protected":false},"author":3,"featured_media":7513,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[63,70],"tags":[281,89],"class_list":["post-7512","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-finance","tag-price-analysis","tag-solana"],"yoast_head":"\nShort-Term Price Impact<\/h3>\n\n\n\n
Long-Term Fundamentals Remain Strong<\/h3>\n\n\n\n