Solana Could See Sharp Movement—Whales Sell Off Ahead of Friday’s Jobs Release

Solana Braces for Volatility as Whales Exit and U.S. Labor Data Looms

The crypto market is bracing for a potentially volatile day, with Solana (SOL) in focus after whales unloaded tens of millions in tokens ahead of the U.S. non-farm payroll report due later Friday.

Implied Volatility Suggests Movement

According to Volmex’s implied volatility index, traders expect SOL to move by nearly 5.74% in the next 24 hours, based on a one-day annualized volatility reading of 109.70%. While elevated, this level of implied movement is not unprecedented, especially given the frequent swings observed in Solana’s price since March.

Whales Offload $46M — But Market Absorbs It

Blockchain data from Lookonchain confirms that several whale wallets unstaked and sold approximately $46.3 million in SOL, contributing to some price pressure. Despite the size, the volume represents less than 1% of daily trading activity, highlighting the depth and liquidity of Solana markets.

SOL remains relatively stable around $116, down modestly from Thursday’s low of $112, as the market awaits fresh economic cues. Since reaching a year-to-date high of $295 in January, the asset has gradually corrected lower in line with broader market sentiment.

All Eyes on Non-Farm Payrolls

Market attention now turns to the upcoming U.S. jobs report, which could influence Federal Reserve policy expectations. Forecasts suggest 130,000 jobs added in March, a cooldown from February’s figure and well below the 12-month average.

The unemployment rate is seen edging up to 4.2%, while wage growth is expected to hold steady at 0.3% month-on-month. A downside surprise could reinforce expectations for up to four rate cuts in 2025, easing monetary conditions and potentially lifting appetite for crypto assets.

As risk sentiment teeters and whale moves stir short-term anxiety, Solana may be gearing up for a decisive reaction — not just to technicals, but to macro forces playing out in real time.

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