Solana Price Teetering Between Whale Accumulation and Pump.fun Sell-Off

Solana's price is stuck in a tug-of-war between whale accumulation and Pump.fun's selling pressure.

A large wallet purchased $17.4 million worth of SOL, while Pump.fun continues to dump tokens on the market, selling over 84,789 SOL worth around $6.25 million this week alone.

The buying force has some institutional backing, with Morgan Stanley's exchange-traded products offering staking rewards and Grayscale floating plans for cash payouts from staking.

Solana's price is currently trading near $73, down 1.4% to 2.8% over the past week, but its market cap remains around $42 billion to $43 billion, ranking it as the seventh-largest cryptocurrency by market value.