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Solana Token Price Coils Up as $120M SOL Exits Exchanges Ahead of Alpenglow Upgrade

May 21, 2025

1 min read

Solana token price continues to waver this week as the consolidation that started last week continues. SOL was trading at $168 at press time, down by 8.7% from its monthly high. Despite this, the coin is about to form a golden cross pattern, the Alpenglow upgrade is coming, and $120 million tokens have fled exchanges, pointing to an eventual comeback. Solana Token Price to be Boosted by Exchange Outflows A potential catalyst that may push the Solana token price higher is that investors are not selling their coins after the 76% surge from its lowest point in April. Instead, more coins continue leaving exchanges for self-custody. CoinGlass data show that tokens worth $16 million have left exchanges this week after $107 million left last week. This brings the total exchange outflows in the last two weeks at $123 million. This increase has helped to offset the $116 million coins that... Read More at Coingape.com

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