Crypto: Solana Slips Below $130, But Onchain Data Suggests Sol Remains Bullish

SOL price slipped under $130, but whale accumulation amid declining supply on exchanges and strengthening on-chain metrics point to a potential for recovery.

Solana (SOL) price dropped below $130 for the first time since Jan. 2 as onchain data suggested that a strong recovery could be in the cards for the top-10 altcoin.

SOL dips below $130 amid marketwide pullback, but whales remain confident as they load up more tokens.

SOL exchange supply falls to two-year lows, signaling a reduction in sell pressure.

Recovery in network activity boosting onchain demand for SOL.

SOL whales remain confident about the prospects of a further rally, using the pullback to $120 seen at the end of 2025 to accumulate more tokens.

Data from Glassnode reveals that whale addresses holding between 1,000 and 10,000 tokens have increased sharply since late November 2025, as shown in the chart below. These entities now hold approximately 48 million SOL, about 9% of the total circulating supply.

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Addresses with at least 100,000 tokens now hold 362 million tokens, up from 347 million tokens on Nov. 17, 2025, representing 64% of the total supply.

Other data also suggests that the market has been in an accumulation phase as long-term holders (LTHs) buying pressure increased.

Source: CoinTelegraph