The Big Whale Has Gone All In: Accelerating Heavy Buying in This Altcoin
According to on-chain analytics data, an address that has been regularly accumulating Solana (SOL) through over-the-counter (OTC) transactions since late April has significantly increased its purchases in recent days.
According to the analysis, the address in question purchased 249,500 SOL (approximately $46.78 million) through the FalconX and Wintermute platforms in the last 4 days alone.
This address reportedly purchased a total of 827,000 SOL (approximately $146 million) since the end of April, staking all of these assets. The average purchase price was calculated at $177.
At the time of writing, Solana is trading at $194. SOL had fallen from $260 to as low as $8 during the massive FTX crash at the end of 2022 due to the large holdings of SOL coins by Alameda Research, a company owned by the defunct exchange. This year, SOL broke records, reaching an all-time high of $294 in January.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
From yen rate hikes to mining farms shutting down, why is bitcoin still falling?
The recent decline in bitcoin prices is primarily driven by expectations of a rate hike by the Bank of Japan, uncertainty regarding the US Federal Reserve's rate cut trajectory, and systemic de-risking by market participants. Japan's potential rate hike may trigger the unwinding of global arbitrage trades, leading to a sell-off in risk assets. At the same time, increased uncertainty over US rate cuts has intensified market volatility. In addition, selling by long-term holders, miners, and market makers has further amplified the price drop. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.
The Economist: The Real Threat of Cryptocurrency to Traditional Banks
The crypto industry is replacing Wall Street's privileged status within the American right-wing camp.
Grayscale's Top 10 Crypto Predictions: Key Trends for 2026 You Can't Miss
The market is transitioning from an emotion-driven cycle of speculation to a phase of structural differentiation driven by regulatory channels, long-term capital, and fundamental-based pricing.
From Yen Interest Rate Hike to Mining Farm Shutdown, Why Is Bitcoin Still Falling
The market is down again, but this may not be a good buying opportunity this time.
Trending news
MoreCrypto prices
More
