The native token of the Solana blockchain, SOL, has experienced a drop in price and whale activity, attracting attention from crypto enthusiasts. A post on X (formerly Twitter) by a blockchain-based transaction tracker, Crypto Beast, claiming that Binance is selling all their Solana holdings, went viral and caused an 8% price drop within 24 hours. SOL is currently trading at around $143, with a 130% increase in trading volume. Technical analysis suggests that if SOL fails to hold the support level of $120, it could drop by 35% to $75. Despite this bearish outlook, on-chain analytics firm Coinglass reports that almost $200 million worth of SOL has been withdrawn from exchanges in the past 48 hours, indicating potential accumulation and buying pressure. However, given the current market sentiment, the likelihood of an upside rally remains uncertain.



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