Solana Whale Concentration Rising, On-Chain Supply Distribution Shifts

According to the latest tracking from on-chain data analysis platform NS3.AI, large holder addresses in the Solana ecosystem are accelerating their asset accumulation. Addresses holding between 10,000 and 100,000 SOL have recently increased their share of the total Solana supply from 21.9% to 22.2%. This change involves approximately 1.71 million SOL tokens, worth about $144 million at current market prices. The rise in concentration reflects sustained confidence from major holders in the Solana ecosystem and provides important on-chain signals for market participants.

Large Holder Addresses Reach New Highs

Recent data shows that Solana’s supply concentration is on the rise. In just the past two weeks, addresses holding over 100,000 SOL have seen significant net purchases. The increase from 21.9% to 22.2% may seem small, but the actual addition of 1.71 million tokens indicates these large holders are making substantial asset allocations. At the current SOL price of $90.38, this amount approaches $1.5 billion, comparable to a medium-sized institutional buy-in.

It’s worth noting that this rising concentration is not unique to Solana, but it is relatively faster compared to mainstream public blockchains. The accumulation by large addresses often signals market participants’ expectations for future price movements.

Technical Perspective: Long and Short Positions Unwind to Signal Market Moves

On the technical side, SOL is currently forming a bottoming pattern. Recent data shows $80 million in short-term positions were closed near $89, while about $41 million in long-term positions were closed around $83. These unwinding activities reflect both bullish and bearish traders adjusting their strategies, indicating key price levels are becoming focal points in market battles.

Currently, SOL trades around $90.38, a noticeable increase from previous levels near $85. However, the presence of concentrated closing zones suggests upward breakthroughs may face some resistance.

Implications of Rising Concentration

The increase in Solana’s supply concentration has dual implications. On one hand, rising large holder positions could be a bullish signal—institutions and major holders often lock in chips early during bottom phases. On the other hand, excessive concentration might also increase market volatility, as these large holders adjusting their positions could cause short-term price shocks.

Based on on-chain data and technical indicators, Solana is currently in a critical accumulation phase. Continuous buying by large holders and significant unwinding activity send complex signals to the market. Investors should closely monitor subsequent trends in supply concentration and trading activity at key price levels.