Solana Deals with 2.8M SOL Dump, However This Could Trigger a Run to $160 – How?

Can Solana’s bulls please their hunger for build-up amidst rising sell pressure?

SOL faces headwinds as sell-side liquidity deepens. Sure, Solana closed May up almost 6.8%, holding strong regardless of all the market volatility. Simply on the 2nd of June, around $330 million in losses struck the books while SOL traded near $156. No surprise, SOL shrugged off the 2.8 million token dump, flexing some major resilience right now.

SOL deals with headwinds as sell-side liquidity deepens. Sure, Solana closed May up almost 6.8%, holding strong regardless of all the market volatility. Simply on the 2nd of June, around $330 million in losses struck the books while SOL traded near $156. And that current 2.8 million SOL dispose onto Binance? Source: Glassnode. This means that more SOL is still streaming out of exchanges than in, signaling that bulls are actively pulling tokens off the market to hold rather than dump. No surprise, SOL shrugged off the 2.8 million token dump, flexing some major strength right now.

Sam Boolman | Crypto Enthusiast and Writer

Sam Boolman is a contributing writer at ChainIntel.org with a long-standing interest in cryptocurrency, blockchain technology, and emerging financial trends. A self-directed trader who actively invests his own capital, Sam follows the markets closely and brings a hands-on perspective to the fast-paced world of crypto journalism. With a background in business and digital media, Sam has written across a variety of sectors including tech, startups, and online finance. His curiosity and enthusiasm for the evolving digital economy fuel his exploration of Web3, decentralised finance, and market developments. Sam is passionate about making complex topics more accessible to everyday readers and continues to expand his knowledge through research, trading experience, and industry engagement.

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