Currently priced at $88.70, Solana (SOL) trades against a backdrop of extreme market pessimism, with the Fear & Greed Index registering 10 (Extreme Fear) and just 24% of traders expressing bullish sentiment.
Despite the cautious mood, multiple forecasters project substantial gains by year-end 2026, with targets ranging from $132 to $289.
Solana is trading at a pivotal technical level, with analysts highlighting the $90 support zone as make-or-break for the blockchain's near-term trajectory. Holding this support could trigger a 30% price rally, pushing SOL toward $117 in the coming weeks.
major Solana whale unstaked 170,000 SOL and deposited the entire amount to Kraken exchange
A major Solana whale unstaked 170,000 SOL, valued at $14.85 million, and deposited the entire amount to Kraken exchange within 24 hours as of March 27, 2026, according to on-chain analytics firm Onchain Lens. The move has sparked speculation about potential selling pressure, though the whale retains a substantial 457,937 SOL ($38.9 million) in staked holdings.
SOL currently trades at $83.33, down 4.82% amid heightened market scrutiny of whale activity.
The whale executed a deliberate process to access the funds. Unstaking on Solana's proof-of-stake (PoS) network—where users lock tokens to secure the network and earn rewards—requires a deactivation period spanning several days or epochs before tokens become liquid again.
Once unlocked, the whale transferred the full 170,000 SOL to Kraken, a major centralized exchange. This deposit represents approximately 18% of the whale's previously staked position while leaving significant holdings intact.
"Such large-scale unstaking and transfers often spark discussions among traders about potential selling pressure or strategic repositioning," Onchain Lens noted in its analysis. Deposits to centralized exchanges typically reduce self-custody and increase trading liquidity, commonly interpreted as preparation for selling or rebalancing.
Kraken has emerged as a hub for whale-scale transactions.
This transaction follows a pattern of notable whale movements on Solana. Around March 21, 2026, another whale unstaked 1.81 million SOL worth $163 million, with full liquidity expected after the deactivation period ends around April 11.
Staking protocols are showing signs of strain. Marinade Finance, a leading liquid staking platform, reported $85 million in withdrawals last week, with new deposits down 23% from February levels. Validators have expressed concerns that widespread exits could impact network security by reducing the total amount of staked tokens.
Kraken has emerged as a hub for whale-scale transactions. Recently, a Chainlink whale deposited 200,000 LINK to the exchange, realizing 2,635% profits with an average entry price of $0.3283 and exit around $8.98.
ETH Price Drops Below $2,000 Support As Ethereum Decline 52% From Peak | Crypto Watch Desk