Solana’s SOL (SOL-USD) could rise or fall by nearly 6% in the next 24 hours, according to volatility forecasts. That’s the warning flashing from volatility trackers as whales unload millions in tokens ahead of key U.S. jobs data expected Friday.
Whales Offload as SOL Price Stalls
Blockchain data from Lookonchain showed several large holders unstaked and sold roughly $46.3 million worth of SOL early Friday. While that’s only 0.97% of the day’s $4.7 billion trading volume, whale sell-offs often raise red flags. They tend to drag on price action, especially when combined with weak sentiment.
So far, though, the reaction has been muted. SOL is holding steady near $116 after dipping to $112 on Thursday. It’s been on a broader downtrend since peaking at $295 in January.
Volatility Index Points to a Sharp Price Move
Traders are now watching Solana’s one-day implied volatility index from Volmex, which sits at an annualized 109.70%. That translates to an expected 5.74% swing in either direction within the day. Not massive, but still meaningful — and enough to keep short-term traders on their toes.
This level of volatility isn’t out of character. According to CoinDesk, SOL has seen several daily moves of 6% or more since early March. But with Friday’s macro backdrop, that range could expand fast.
Markets Watch Payroll Data to Set Crypto Direction
The next big catalyst? The U.S. non-farm payrolls report. Set for release at 12:30 GMT, the report is expected to show 130,000 jobs added in March — down from 151,000 in February and well below the 12-month average of 162,300, per FactSet.
If the numbers come in soft, it could reignite bets on interest rate cuts. That would likely be bullish for risk assets, including crypto. But if the labor market proves too strong, traders might need to brace for the opposite.
At the time of writing, Solana is sitting at $116.37.
