New Wallet Stakes 20K SOL Amid Market Weakness
Key Takeaways
- A new wallet has staked over 19,800 SOL, worth approximately $3.5 million USD.
- At the same time, there were $6.1 million USD in long liquidations – a warning sign for overleveraged long positions.
- The SOL price continues to struggle with resistance at $193 USD.
- Despite weak price performance, most traders remain optimistic.
- Net outflows in the spot market point to ongoing selling pressure.
Staking Activity Signals Long-Term Confidence
A newly created wallet withdrew a total of 20,009 SOL from the crypto exchange Binance on May 25, 2025. Of that amount, 19,875 SOL were staked directly. An additional 134 SOL were sent to another staking address. The total staked volume amounts to approximately 9,270 SOL (about $1.6 million USD).
These transactions suggest long-term confidence in Solana (SOL). Nevertheless, the market reaction was muted. This may indicate that institutional investors are building positions in the background without triggering short-term price movements.
Liquidations Hit Overleveraged Long Positions
On the same day, long liquidations across all major exchanges totaled $6.1 million USD. In contrast, short liquidations were only $326,000 USD. On Binance alone, long positions worth $2.76 million USD were liquidated.
These figures reveal a clear imbalance. Many traders continue to bet on rising prices – despite falling prices. Such liquidation spikes often indicate an overheated market and can be a precursor to a correction.
Traders Remain Optimistic – Perhaps Too Optimistic
According to data from Binance, around 69% of traders currently hold long positions in SOL. The long/short ratio stands at 2.22. This one-sided positioning is risky, especially after the recent wave of liquidations.
Such a dominant long sentiment can lead to further losses if the price drops again. Traders using high leverage could come under renewed pressure.
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Resistance at $193 USD Remains Persistent
At the time of analysis, the SOL price stood at $172.34 USD. The key resistance at $193 USD – based on the 0.786 Fibonacci retracement level – was once again not breached. The Relative Strength Index (RSI) dropped to 61.87, indicating decreasing momentum.
A sustained breakout above $193 USD would be necessary to target the next price level at $229.46 USD. If this fails, a continued sideways movement or a pullback is likely.
Spot Market Shows Continued Outflows
On May 25, the spot market recorded outflows of $158.93 million USD, while inflows amounted to only $141.42 million USD. This results in a net outflow – a sign that many investors are still taking profits or reducing positions.
Despite the positive signals from staking, the short-term outlook remains subdued. As long as outflows dominate, a sustained price increase is unlikely.
Our Assessment
The staking activity of large wallets suggests long-term confidence in Solana. At the same time, current market data shows clear short-term weakness. The high number of long liquidations, resistance at $193 USD, and net outflows in the spot market are warning signs.
If you’re currently invested in SOL or planning to enter, you should monitor the price action closely. A breakout above $193 USD accompanied by increasing inflows could be a positive signal. If this does not occur, further consolidation or a decline is to be expected.
Sources
- CoinGlass
- TradingView
- Binance Research
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