Binance Accumulate Solana, Can SOL Coin Prices Rise Again?

Bittime - Recently, Binance was observed to gradually re-accumulate SOL after previously selling it in large amounts. This strategic move raises the question of whether the token is ready to experience a significant price recovery. 

By analyzing Binance accumulation trends, key support levels, and market sentiment, we can gain insight into potential SOL price movements.

Binance SOL Holdings Increase

The latest data shows that Binance has increased its holdings of Solana (SOL) after previously selling large amounts. This accumulation pattern fuels speculation about a possible SOL price recovery.

Between August 2024 and March 2025, Solana Binance balances show clear accumulation and distribution phases. In August 2024, Binance had the highest SOL balance, but there was a gradual decline until December 2024 and early January 2025. 

This drop is in line with the theory that Binance sold SOL, which likely contributed to the token's price drop.

However, from January 2025, Binance started accumulating Solana again, with balances increasing sharply in March. Historically, this kind of accumulation is a bullish signal, as increasing reserves on exchanges can indicate a potential price rally if the trend continues.

Read also: BlackRock Potentially Proposes XRP and Solana ETFs

Will Solana Recover from $100 Support?

Solana price action shows a critical support zone at the $100 level. The token fell from its peak of $220 in 2024 and established this support level in early 2025. Currently, SOL price shows an initial bounce point at $127.59, which is in line with Solana's trend in March 2025.

If SOL is able to stay above $100, a recovery towards $180 or higher is likely. In the event of a sustained breakout above $127.59, it could confirm a bullish trend reversal. 

However, if SOL fails to stay above $100, further selling could push the price down to the $80 level before any meaningful recovery occurs.

Traders are watching the $100 level closely, as resistance to this zone could strengthen the bullish momentum. Conversely, a break below this level could signal further bearish movement.

Market Sentiment: Retail vs. SmartMoney

Market sentiment for Solana is currently mixed. Retail traders driven by optimism showed a bullish stance with a sentiment score of 0.34. 

Meanwhile, institutional investors or "Smart Money" looked more bearish with a score of -0.58. This contrast between retail optimism and institutional caution creates a volatile environment.

If Smart Money sentiment continues to decline further (e.g. below -1), SOL price could face greater selling pressure. Conversely, if retail enthusiasm cools and sentiment falls below 0, the price correction could accelerate.

Read also: Solana Coin is Now 5 Years Old, Will SOL Price Break New ATH?

Conclusion

With Binance again accumulating SOL, the market could see a potential bullish reversal if this accumulation continues. 

The $100 support zone remains a crucial level, and whether this level holds or is broken will determine Solana's price direction in the near term. 

If bullish momentum persists, a recovery to $180 or more is possible. However, if SOL fails to stay above $100, the price could fall further before another rally occurs.

FAQ

1. How much is 1 Solana currently?

The current price of 1 Solana (SOL) is around Rp2,116,504 based SOL/IDR Market Finished. 

2. Will Solana rise in 2025?

Solana (SOL) price predictions for 2025 vary. According to analysis from BeInCrypto, the price of SOL in 2025 could reach a high of around $197.36, with a potential Return on Investment (ROI) of 102% from current levels.

3. Who owns Solana?

Solana was founded by Anatoly Yakovenko in 2017. Yakovenko previously worked at Qualcomm before founding Solana. The company behind the development of Solana is Solana Labs, with the Swiss-based Solana Foundation responsible for funding and community development.

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Reference 

Lenox Gitonga, Binance Accumulating Solana, Will Price Bounce?, accessed March 17, 2025.

Author: SD