- Whale wallets moved over $40 million in SOL to exchanges within the past day.
- Solana’s spot market showed alternating large inflows and outflows from October 2024 to August 2025.
- Altcoin market cap patterns from 2018–2021 mirror 2022–2025 trends, with similar MACD crossovers.
Solana’s market activity has intensified, with whale wallets moving large volumes of SOL across major exchanges. Recent trading data also reveals notable liquidity shifts in Solana’s spot market, marked by alternating inflows and outflows over the past year. Meanwhile, the broader altcoin market shows a recurring multi-year price pattern, supported by similar MACD movements across cycles.
Large SOL Transfers Recorded by Whale Wallets
According to a recent post on X by Lookonchain, whale activity involving Solana intensified over the past day, with major token deposits spotted across multiple exchanges. Blockchain data showed wallet CMJiHu moved 96,996 SOL worth $17.45 million to exchanges nine hours ago.
Another wallet, 5PjMxa, sent 91,890 SOL valued at $15.98 million to Kraken three hours ago. Additionally, HiN7sS deposited 37,658 SOL worth $6.73 million to Binance eight hours ago, securing a profit of $1.63 million from the transaction.
Solana Spot Market Shows Distinct Netflow and Price Shifts
Diving deeper to its market action, Solana’s spot market data between October 2024 and August 2025 shows clear periods of large inflows and outflows. Coinglass data reveals that netflow spikes above $200 million were recorded in November 2024 and mid-January 2025, coinciding with SOL’s rise above $250. From February through April 2025, sustained negative netflows occurred, with several sessions dropping below $100 million in outflows.
Source: CoinglassThis phase saw SOL’s price move sharply lower, nearing $100 during April. The downward shift in liquidity marked one of the steepest drops in the reviewed period. Between May and early August 2025, the market displayed smaller fluctuations, with inflows and outflows largely offsetting each other.
At the time of writing, Solana recorded a net inflow of $1.73 million. At that time, the token traded at $174.64, reflecting a moderate recovery from earlier lows. Overall, the chart data reflects alternating liquidity phases across the year, with notable price changes occurring during high-volume netflow shifts in Solana’s spot trading activity.
Altcoin Market Cap Forms Repeat Pattern Over Multi-Year Cycle
As Solana whales keep the market activity active, the altcoin market capitalization has shown recurring price structures between 2018–2021 and 2022–2025. Both cycles feature rounded bottom formations with two distinct low points before testing a horizontal resistance level. In the earlier cycle, the market built a rounded base from two troughs marked as points 1 and 2.
Source : XThis base formation led to a breakout above resistance, followed by a sharp rise in total market capitalization. A similar rounded structure has developed in the current cycle, again with two lows before reaching resistance. The current price is testing the same resistance level drawn from the peaks of both cycles.
The monthly Moving Average Convergence Divergence (MACD) indicator shows similar behavior in both patterns. In the earlier cycle, a bullish crossover occurred near the breakout stage. In the current cycle, the MACD histogram has shifted to positive, with the MACD line crossing above the signal line.
