On Tuesday, a large Solana whale transferred 494,153 SOL—valued at approximately $72 million—to the Coinbase exchange, raising concerns over a potential sell-off. 

Large exchange inflows like this often signal impending selling pressure, putting SOL’s recent gains at risk.

$72 Million in SOL Hits Coinbase, Weighing on Market Sentiment

According to Whale Alert, a SOL whale transferred 494,153 SOL valued at $72 million to Coinbase Institutional on Tuesday. Significant exchange inflows such as this mean that large investors are moving their holdings from private wallets to exchanges, often signaling an intent to sell.

This increased supply on exchanges can increase the downward pressure on the SOL price, especially if there is insufficient demand to absorb the selling. As a result, its price may decline in the near term, leading to further sell-offs.

Moreover, the coin’s negative weighted sentiment heightens the risk of this selloff. At press time, this key metric is below zero at -0.51.

An asset’s weighted sentiment analyzes social media and online platforms to measure the overall tone (positive or negative) surrounding it. It considers the volume of mentions and the ratio of positive to negative comments. When weighted sentiment is positive, it indicates more positive comments and discussions about the cryptocurrency than negative ones.

On the other hand, when it is negative, the overall market sentiment is bearish, with more negative commentary and pessimism outweighing positive discussions about the asset. 

This trend can increase selling pressure in the SOL market, discourage new demand, and contribute to its price decline as traders react to the prevailing bearish outlook.

Will Solana Drop to $138 or Surge to $160?

At press time, SOL trades at $145.84. If the whale selloff prompts retail traders to distribute their coins, SOL’s price may plummet to $138.84.

However, on the daily chart, SOL bulls appear ready to defend key levels. Readings from technical indicators, including the Parabolic SAR, suggest that buying momentum is gaining strength.

At press time, the dots that make up this momentum indicator rest below SOL’s price, offering dynamic support. When an asset’s Parabolic SAR is set up this way, it signals a bullish trend. It hints at the possibility of a rally in SOL’s price in the short term. If this happens, the coin could exchange hands at $160.34.

Pi Network is planning to unlock 188 million tokens in March, making them accessible to over 1 million users. This is a substantially larger user pool than most months. Yet, it may not increase selling pressure as demand for PI continues to surge.

However, the project’s community is also acting aggressively over social media, review-bombing Binance for its perceived listing delays. A Binance community vote overwhelmingly supports Pi, but the listing hasn’t gone live yet, prompting intense backlash.

Pi Network Prepares for Big Unlock

Pi Network is one of the most hyped crypto projects in recent times. Since its mainnet launch on February 20, PI surged nearly 100%, hitting a peak of $2.99 before seeing corrections. At the same time, it’s gaining recognition from the wider community despite earlier criticism.

A week ago, CoinMarketCap refused to update its market cap, but the platform reversed this stance yesterday. PI is now the 11th largest cryptocurrency in the market, ahead of Hedera, Chainlink, Steller, and other notable names.

CoinMarketCap’s community sentiment shows that 91% of its users are bullish on Pi, as the firm is planning to unlock 188 million tokens to over 1.1 million users this month.

A token unlock of this size is bound to have an impact on Pi Network’s price. Recently, the project launched the biggest airdrop in crypto history, which helped juice enthusiasm.

ExplorePi data shows that there are currently more than 11.5 million Pioneer accounts. However, 7.25 million (63%) accounts lock PI for three years, and 1.6 million accounts (14%) lock PI for one year.

Therefore, the selling pressure on Pi Network may not take effect immediately, even with this massive user pool.

Nonetheless, Pi Network is also ruffling more than a few feathers. Recently, Binance hosted a community vote on whether or not to list PI tokens, and its users were overwhelmingly in favor.

Despite the votes, Binance is yet to list PI, and several users are not taking this lightly. Pi fans have review-bombed its Google reviews. Without directly mentioning the project, the exchange responded to these comments:

“Before listing cryptocurrencies, Binance will check and consider many factors including liquidity and trading volume in the market,” Binance claimed. Although the exchange didn’t directly reference Pi Network, it commented on several Pi-centric 1 star ratings on Play Store.

Many (but not all) of these reviews and responses took place on Asia-based servers, where the project is the most popular. Recently, the Vietnamese government issued a warning about Pi Network, and Bybit CEO Ben Zhou reminded his users that China issued similar warnings years prior.

Regardless, Pi Network seems to have a huge community of enthusiastic supporters. Although some of its fans are getting a reputation for their hostility and defensiveness on social media, the project remains resilient to the current market conditions.

On March 7, 2025, the White House will host its first-ever Crypto Summit. President Donald Trump will chair the summit, and David Sacks will serve as moderator.

With Trump’s recent moves, many investors are anticipating positive changes. Below are three things that BeInCrypto thinks will be key agenda in the summit.

Progress Toward Regulatory Clarity

For years, regulatory ambiguity has been a headache for cryptocurrency investors. The previous Biden administration took a heavy-handed approach with SEC lawsuits targeting companies in the industry. This was seen as excessively stifling the market, preventing its growth in the US.

Trump’s crypto-friendly stance could change that. The summit might outline a simpler legal framework for digital assets, addressing issues like exchange compliance, DeFi regulations, and stablecoin management.

David Sacks, a supporter of stablecoins strengthening the dollar’s position, could push for policies legitimizing USDC or USDT without stifling innovation.

Evidence of this shift includes the recent dismissal of several SEC lawsuits against Uniswap, Kraken, Coinbase, and other crypto companies.

Most importantly, the Summit will reportedly have a very short guest list, and several major crypto leaders have already been invited. This suggests that the White House wants to engage in direct conversation with these leaders, which could lead to more policy suggestions.

“More attendees are confirming attendance at Friday’s White House Crypto Summit. Confirmations so far from: Michael Saylor, David Bailey, Matt Huang, JP Richardson.” FOX journalist Eleanor Terrett said.

More Details On The US Crypto Reserve

President Trump recently announced plans to establish a strategic reserve with Bitcoin (BTC), Ethereum (ETH), XRP, Solana (SOL), and Cardano (ADA). This has already had a positive short-term impact on their prices. As a result, investors holding these coins are particularly interested.

However, the market lacks detailed information about this strategic reserve. Where will the funding come from? Will it use seized assets or existing Treasury authority?

Additionally, the size of the fund and which assets might be added to the list might also be discussed at the White House Crypto Summit.

The Commerce Secretary also says President Trump will unveil the Bitcoin reserve strategy at the Summit. Other crypto assets will be treated positively but differently.

“The President definitely thinks that there’s a Bitcoin strategic reserve. Now there will be the question of, how do we handle the other cryptocurrencies? And I think the model is going to be announced on Friday when we do that.” Secretary Lutnick told The Pavlovic Today. 

At least, for now, this strategic reserve could reinforce the legitimacy of cryptocurrencies, serving as a morale boost for long-term holders.

Crypto Tax Policy

Another potential topic of discussion is likely to be crypto tax reform. For a while now, Trump has been hinting at eliminating capital gains taxes on cryptocurrencies.

Lower taxes would reduce costs and increase profits for individual investors, potentially leading to reinvestment and boosting market activity.

In reality, completely eliminating capital gains taxes is unlikely due to potential opposition from Congress. However, a smaller adjustment, such as extending holding periods to reduce taxes, might be more feasible.

The White House Crypto Summit is taking place amid market uncertainty. The US trade war with other nations is heating up more than ever.

On Monday, Bitcoin dropped to $82,000 before recovering to its current level. Now, BTC retests $90,000 amid speculation of preferential treatment in Trump’s crypto reserve.

If the summit delivers positive news, it could reverse the downward trend. On the contrary, it could prolong the selling pressure, causing the market to continue falling further.

Therefore, investors should prepare for price volatility. This could be a “buy the rumor, sell the news” scenario, so users should avoid over-leveraging before the event. Consider your risk tolerance and investment goals.