SOL price nears $400 as Axiom Exchange hits $200M revenue, with whale activity and new retail access driving market focus.
Solana’s recent market activity has drawn attention as the cryptocurrency moves toward the $400 target predicted by traders.
Axiom Exchange, a Solana-based trading bot, has reached $200 million in revenue on August 4, setting a record for the fastest app in the crypto sector to achieve this milestone. The achievement came just 73 days after Axiom passed $100 million in revenue, further strengthening optimism in the Solana community.
Axiom Exchange Achieves Record Revenue Growth
The trading bot from Axiom Exchange has gained wide adoption among Solana users. It previously became the fastest platform to reach $100 million in revenue in 129 days.
SolanaFloor shared on social media that Axiom’s new record reinforces Solana’s growth story in the current market cycle.
Revenue szn https://t.co/bTkcHXttke
— Solana (@solana) August 11, 2025
Solana’s official account also shared a brief post calling the period “Revenue szn,” indicating strong ecosystem momentum.
Traders and investors have linked this performance to the potential for higher SOL prices. Market commentators believe that high network usage often translates into better price performance for the token.
SOL Price Resistance and Whale Activity
Despite optimism, Solana faces heavy resistance near the $189 level. Crypto analyst Ali has identified this as a key price point for a potential breakout. Breaking above it could lead to a rally toward new highs, with other analysts predicting a move toward $350 to $400.
Whales seem to be selling $SOL.
CMJiHu deposited 96,996 $SOL($17.45M) to exchanges 9 hours ago.
5PjMxa deposited 91,890 $SOL($15.98M) to #Kraken 3 hours ago.
HiN7sS deposited 37,658 $SOL($6.73M) to #Binance 8 hours ago for a profit of $1.63M.https://t.co/SjYyx112xa… pic.twitter.com/6A22shhpe8
— Lookonchain (@lookonchain) August 12, 2025
Large whale movements have also influenced market sentiment. Over 226K SOL, valued at $40 million, were recently moved to exchanges.
Wallets tracked by Lookonchain included deposits from CMJiHu, 5PjMxa, and HiN7sS to platforms like Kraken and Binance. These transfers came after Galaxy Digital moved 224,000 SOL over the weekend, adding to selling pressure.
Solana Ecosystem Developments and Retail Access
Despite selling activity, ecosystem updates have kept interest in Solana strong. OSL HK became the first Hong Kong exchange to offer SOL retail trading, expanding accessibility for new investors.
Jeff Bezos’ Blue Origin also announced that SOL would be accepted for spaceflight bookings alongside Bitcoin, Ethereum, Tether, and USDC.
Solana continues to push development initiatives. The launch of the Solana Seeker smartphone is part of a wider strategy to increase community engagement and network usage.
Meme token projects on Solana have also shown growth, with graduation rates surpassing 3%, suggesting a rise in on-chain activity.
The post SOL Price Climbs Toward $400 Backed by Axiom’s $200M Record Run appeared first on Live Bitcoin News.