In the last 10 hours, a significant whale activity was observed on the Solana network, where a whale withdrew 47,154 SOL, equivalent to $7.98 million, from Binance at 14:00 UTC on February 20, 2025, and subsequently staked it. This action follows a pattern over the past three days, where the same whale has withdrawn a total of 134,482 SOL, valued at $22.85 million, from Binance and staked it as of 14:00 UTC on February 20, 2025. These transactions are significant as they indicate a strong confidence in the long-term value of SOL, as staking typically implies a long-term holding strategy. According to data from Lookonchain, the whale's actions have been tracked meticulously, providing a clear picture of large investor behavior in the Solana ecosystem (Source: Lookonchain, X post, February 20, 2025).

The immediate impact on the SOL price was a slight increase of 1.2%, moving from $169.23 to $171.27 within an hour of the latest withdrawal at 15:00 UTC on February 20, 2025, as reported by CoinGecko. The trading volume for SOL/BTC on Binance surged by 23% to 1,450 BTC within the same timeframe, indicating heightened interest following the whale's move. For the SOL/USDT pair, the volume increased by 18% to $45 million, suggesting that the whale's actions are influencing both crypto-to-crypto and crypto-to-fiat trading pairs. On-chain metrics from Solana Explorer show that the staking rate for SOL increased by 0.5% to 72.3% of the total supply, highlighting a shift towards staking amidst the whale's activities (Source: CoinGecko, Binance, Solana Explorer, February 20, 2025).

Technical analysis of SOL indicates that the Relative Strength Index (RSI) for SOL/USDT on a 4-hour chart rose from 55 to 62 at 16:00 UTC on February 20, 2025, suggesting increasing momentum. The Moving Average Convergence Divergence (MACD) line crossed above the signal line at 16:30 UTC, a bullish signal. The trading volume for SOL on decentralized exchanges (DEXs) also saw a 15% increase to 2,300 SOL within the last 24 hours ending at 18:00 UTC on February 20, 2025, according to data from DEX Screener. This whale's activity has not only impacted centralized exchange volumes but also the decentralized trading ecosystem, reinforcing the bullish sentiment around SOL (Source: TradingView, DEX Screener, February 20, 2025).