Solana Whale Withdraws 54K SOL as Bolivia Debuts Futures: $500 Target Next?
This content is provided by a sponsor
A whale has withdrawn 54,000 SOL, valued at approximately $9.46 million, from the Kraken exchange and sent it directly to a staking wallet. This move is widely interpreted as a long-term bullish signal.
The event comes just as Brazil’s B3 Stock Exchange announced the launch of futures contracts for Solana and Ethereum, starting June 16, signaling growing institutional interest in alternative Layer 1 blockchains.
Approved by the country’s securities watchdog (CVM), these derivatives will allow institutions to gain exposure to crypto without navigating private key storage or self-custody hurdles.
SOL Price Analysis: Possibility of Touching $500
From a technical perspective, the 4-hour chart below shows classic bull flag formation following a sharp impulsive move from the $140 to $175 zone.
Using the flagpole height (~$35) from the breakout point around $140 to $175, the projected move places a bullish target in the $250-$300 range in the medium term.
SOL 4H Chart with Bull Flag. Source: TradingView
Additionally, the Relative Strength Index (RSI) reads a value of 54.83, which means that the bulls are overall in control of the SOL price action. The gradient of the line suggests a slight pullback in the short term, but the situation remains bullish in the long term.
The MACD indicator, on the other hand, remains bearish on the 4H timeframe as the signal line (orange) remains above the MACD line (blue). The histogram is also bearish.
If the breakout confirms above $175–$178 with increasing volume, bulls may seize control quickly, driving SOL toward $210 and beyond. Should institutional participation accelerate post-June 16, the $500 target becomes a viable long-term aspiration.
Solana L2 Soars to Popularity amid SOL Accumulation
While SOL continues to push adoption boundaries, Solaxy ($SOLX), the Solana Layer 2, promises to enhance the network’s existing strengths by tackling critical challenges such as network congestion and transaction failures.
By offering unparalleled speed, scalability, and reliability, Solaxy seeks to unlock the full potential of the Solana network. A key feature highlighted is the attractive staking mechanism for its native token $SOLX promising substantial annual returns of 114%.
Source: Solaxy
The popularity of the project is evident from the ongoing presale where Solaxy has raised a massive $35 million with 5 hours, 31 minutes until the next price increase.
It is also important to note that Solaxy’s multi-chain compatibility, extending to Ethereum, aims to provide robust liquidity and broader accessibility for its token.
Disclaimer: This publication is sponsored. Coinspeaker does not endorse or assume responsibility for the content, accuracy, quality, advertising, products, or other materials on this web page. Readers are advised to conduct their own research before engaging with any company mentioned. Please note that the featured information is not intended as, and shall not be understood or construed as legal, tax, investment, financial, or other advice. Nothing contained on this web page constitutes a solicitation, recommendation, endorsement, or offer by Coinspeaker or any third party service provider to buy or sell any cryptoassets or other financial instruments. Crypto assets are a high-risk investment. You should consider whether you understand the possibility of losing money due to leverage. None of the material should be considered as investment advice. Coinspeaker shall not be held liable, directly or indirectly, for any damages or losses arising from the use or reliance on any content, goods, or services featured on this web page.
In a surprise breakthrough, the United States and China have agreed to a 90-day truce in their heated trade war, slashing tariffs by over 100 percentage points and signaling a renewed commitment to balanced trade.
The 4-hour chart shows that VIRTUAL has cleanly broken out of a falling wedge pattern – a classic bullish reversal setup that often precedes powerful rallies.
