Pump.fun’s deposit of nearly $155M worth of SOL and significant withdrawals suggest major players are positioning themselves for future Solana price gains.
Meanwhile, Solana’s network speeds, surpassing 1,300 TPS, continue to impress, adding to the bullish outlook for the token’s future.
Whale accumulation may tighten SOL supply, supporting Solana price growth
Recent data from Lookonchain shows big SOL movements by major players, including Pump.fun and whales.
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Pump.fun deposited 798,869 SOL worth $154M to Kraken and sold 264,373 SOL for $41.64M USDC, retaining large holdings.
Recent activity suggest liquidity management strategies similar to price and market influence optimization.
Two wallets probably belonging to the same whale, separately, withdrew a total of 250,109 SOL. That’s roughly $60M, from Kraken over the past month.
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Whale accumulation could mean that sell-side pressure for SOL could level out, stabilizing prices and even leading to a rally.
This looks like whale’s holding for Solana’s price future upside. Such moves tend to indicate a strategic reduction in circulating supply. This will compress liquidity and instigate a rise in price.
This all fits in line with Solana’s price strength and the growth of the ecosystem continues.
Despite that, deposits on a scale so large could cause regional price spikes and a level of short-term volatility. While still retaining Solana’s appeal as a holy grail asset with high demand.
Solana surpasses 1,300 TPS, showcasing unmatched blockchain speed
SolanaFloor reports that Solana’s network has reached a big milestone, with true transactions per second (TPS) above 1,300 tx/sec.
This is a proof of how fast and efficient Solana crypto is on blockchain networks and how it can take large-scale real-time applications.
Solana achieves this because it underscores the commitment to scalability and the ability to serve decentralized applications (dApps) and users’ ever-growing needs.
The TPS measurement is of Solana’s crypto operational efficiency in reflecting true on-chain transactions, excluding consensus-related and non-user-initiated activities.
It is able to achieve such throughput, placing it far ahead of the competition. This means it is able to support a lot of use cases from DeFi protocols and NFTs to enterprise-grade applications. And yet keep scalability and cost-efficiency.
With Solana crypto ready to scale even further as adoption grows, this development is a strong indicator of the infrastructure this layer 1 intends to enable for developers and users.
This increased TPS not only improves the user experience but also places Solana ahead as an obvious network of preference for high-performance decentralized ecosystems and fuels blockchain innovation.
Solana Eyes $280 as Bulls Push Above Key Support
The Solana price 4-hour chart shows a critical consolidation zone between $238.20 and $239.12, which is key support.
At this time, the price is moving upwards with a bullish bias and with a clear tendency to reach resistance levels at $242.10.
The price is above the key moving averages, and the Alligator indicator signals one can expect a bullish continuation on some alignment.
The $280 level, which is the marked next resistance level, would become an upside target to the price if it gains 17.56%. As a higher level, there is a significant hurdle for the bulls, and movement beyond this point will also show confirmation of a strong bullish trend.
To see the MACD indicator showing signs of recovery, including the histogram moving from red to green and the signal line converging on the zero line, means we are witnessing a growing purchasing pressure.
Solana price is at present overbought, but the stochastic RSI at 81.16 shows that the coin is about to enter the overbought territory, indicating a short-term pullback.
