Solana Whales Reduce Holdings as Mutuum Finance Presale Nears Sell-Out
Solana (SOL) is showing signs of weakening despite ongoing institutional inflows: US-based SOL ETFs have gathered $636 million since July and some firms added >20 million SOL to their treasuries, yet SOL’s price fell 32% in November versus a 21% altcoin drop. On-chain metrics have deteriorated — weekly transaction fees declined from $7M to $4.5M and dApp revenue fell ~30% to $26M/week — prompting whale selling and concerns about Solana’s competitive position versus Ethereum layer-2s like Base and Arbitrum. Against this backdrop, the press release highlights Mutuum Finance (MUTM) as an alternative DeFi project. Mutuum’s presale has raised $19.5M with 18,550 holders; phase 6 is ~99% sold at $0.035 (up 250% from $0.01 in phase 1). Phase 7 will raise the price to $0.04, with a fixed launch price of $0.06 implied. Mutuum promotes audited smart contracts (Halborn review in process), a live dashboard and daily leaderboard with $500 MUTM rewards. The piece frames Mutuum as a limited window for early investment as SOL whales offload and on-chain activity shifts, urging potential investors to consider MUTM before phase prices rise. Note: the article is a press release and advises readers to perform due diligence.
Bearish
The article reports two main developments: noticeable SOL whale selling and deteriorating Solana on‑chain metrics, alongside promotional coverage of a small-cap presale token (MUTM). SOL’s falling transaction fees, declining dApp revenue and a sharper price drop than the broader altcoin market signal weakening network activity and potential distribution by large holders — factors that are typically bearish for price in the short to medium term. Whales reducing exposure can increase sell pressure and reduce confidence, often triggering volatile downside moves. By contrast, Mutuum Finance is a presale-stage token with limited liquidity and high percentage gains already priced in for early phases; such projects can pump on marketing and FOMO but carry high execution and smart‑contract risk. Overall market impact: negative for SOL (bearish), neutral-to-speculative for MUTM (may draw speculative flows away from established assets). Historical parallels: when major networks show declining on‑chain usage (e.g., earlier Solana drawdowns, or waning activity on other chains), prices often underperform until utilization recovers or clear development catalysts emerge. Traders should expect elevated volatility — short term: increased downside risk for SOL and rotation into speculative presales; long term: SOL requires a rebound in on‑chain activity or meaningful adoption catalysts to regain bullish momentum. Risk management: monitor whale on‑chain movements, fees, dApp revenue, and liquidity in MUTM presale phases; avoid overexposure to presale tokens without audited contracts and sufficient liquidity.