$100M in Shorts Suggest Solana (SOL) May Not Cross $235: Report

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Amid the ongoing market decline, Solana (SOL) is gaining attention from crypto enthusiasts due to its current price action on the daily time frame. On January 29, 2024, the blockchain-based transaction tracker Whale Alert posted on X (formerly Twitter) that a crypto whale had moved a significant 220,308 SOL worth $52 million.

This substantial amount of SOL was transferred from the cryptocurrency exchange Bitfinex following the opening bell of the United States market. However, analysts and experts view this transaction as an accumulation by the whale as the asset experiences a significant price decline.