SOL Eyes $400 After Axiom’s $200M Milestone and Whale Moves
Solana’s native token SOL price is approaching $400 following Axiom Exchange’s record-breaking $200M revenue within 73 days of launch. The Solana-based trading bot became the fastest crypto app to double its revenue from $100M to $200M, reinforcing momentum in the Solana ecosystem. Market analysts note high network usage often correlates with SOL price performance. However, SOL price faces resistance near $189, a key level identified by experts. A breakout above this threshold could trigger a rally toward $350–$400. Meanwhile, whale activity is increasing selling pressure. Over 226,000 SOL (approximately $40M) was transferred to exchanges, with significant deposits by wallets CMJiHu, 5PjMxa and HiN7sS on Kraken and Binance. Galaxy Digital also moved 224,000 SOL over the weekend. On the ecosystem front, OSL HK launched retail SOL trading, broadening market access. Blue Origin announced SOL acceptance for spaceflight bookings alongside BTC, ETH, USDT and USDC. Additionally, the Solana Seeker smartphone debuted to boost on-chain engagement. These developments underscore growing retail access and network adoption, signaling a bullish outlook for SOL price among traders.
Bullish
In categorizing this news as bullish, we note that Axiom Exchange’s rapid $200M revenue milestone reinforces network strength and stimulates demand for SOL. Historically, record on-chain revenue growth in protocols like Ethereum’s DeFi platforms preceded price rallies. The expansion of retail access via OSL HK and institutional acknowledgment, exemplified by Blue Origin’s SOL acceptance, broadens the investor base. Although whale transfers totaling over 226K SOL could spark short-term selling pressure, similar large-scale movements in 2021 were absorbed amid strong network fundamentals. The identified resistance at $189 represents a key technical level; surpassing it could trigger FOMO-driven buying and push SOL toward $350–$400. Consequently, the net effect on trading activities and market sentiment is likely bullish, with potential for increased volatility in the short term but sustained upward momentum if ecosystem growth continues.