Solana Whales Trigger Market Jitters Ahead of U.S. Jobs Report
Solana’s native token, SOL, faces a possible 5.7% price swing as large holders offload positions and traders brace for the latest U.S. employment data.
📉 Volatility Snapshot
Data from Volmex shows SOL’s one-day implied volatility at 109.7% annualized, translating to an expected 5.74% move within 24 hours. While elevated, the figure aligns with recent trading behavior observed since early March.
🐋 Whales Exit Positions
Blockchain tracker Lookonchain flagged that whales unstaked and sold $46.3M worth of SOL, just ahead of the U.S. non-farm payroll report. Despite the size, this dump represents only 0.97% of SOL’s daily trading volume, suggesting the market has so far absorbed the pressure.
At last check, SOL is trading at $116, holding above Thursday’s intraday low of $112. The token has declined steadily since its January peak of $295.
📊 Eyes on Payroll Numbers
Investors are now awaiting the U.S. NFP report, expected to show 130,000 new jobs in March, a softening from February’s 151,000. A miss on expectations could reignite Fed rate cut bets, improving risk sentiment across markets.
👀 Key takeaway: SOL may face turbulence in the short term, but with macro catalysts and rate expectations shifting, traders should watch for potential reversal setups into the weekend.
