Overview

• More than 2.5 million SOL worth roughly $836 million moved to exchanges in large tranches, with most flows heading to Binance.
• A separate institutional route moved about $54 million to Coinbase Institutional, pointing to possible redistribution rather than outright liquidation.
• SOL trades near $219–$224 after recent losses, with analysts watching for a potential retest of the $200 support zone.
• Network use weakened as Daily Active Addresses fell about 27% in a week from 2.6 million to 1.9 million, raising sustainability concerns.
• Perpetual funding stayed slightly positive around +0.0074%, reflecting a mild long bias even as price momentum and participation softened.