A dormant whale has shown signs of activity after two months of inactivity. According to data reported by Spot On Chain today, the whale accumulated huge amounts of Solana (SOL).
A smart whale resurfaced after 2 months and withdrew 61,319 $SOL ($12.4M) from #Binance and #OKX at ~$202.53 today!
Previously, this whale had completed 2 $SOL trades between Dec 27, 2023, and Nov 30, 2024, earning an estimated total profit of $8.47M (+38.9%) with a 100% win… pic.twitter.com/2XNJok4bvA
— Spot On Chain (@spotonchain) February 10, 2025
Whale withdraws 61,319 Solana
Today, the big investor, which has been inactive for the past two months, reappeared and withdrew 61,319 SOL coins worth $12.4 million from exchanges. The whale bought the tokens at an average price of $202.53.
The last time, the trader’s address traded SOL was on November 30, 2024, and has been inactive since then. On-chain data showed the trader had executed two SOL trades between December 27, 2023, and November 30, 2024. The two transactions enabled him to gain a return of $8.47 million.
The whale’s activity suggests rising confidence in the Solana ecosystem. It signifies a huge buying opportunity for savvy investors to accumulate SOL before the asset starts seeing potential future price growth.
SOL price updates
The asset’s price has recently experienced impressive performance and continues to be an appealing investment vehicle. It is currently standing at $203.93, after seeing a rise of 10.1% in the past 30 days.
The whale’s acquisition is a testimony that big crypto holders are revamping their interest in Solana, optimistic about the token’s future price hike.
The current US-friendly political environment has a significant effect on the broader crypto market. Market analysts are confident that the new regime could accelerate the approval of various crypto ETFs, including exchange-traded funds based on Solana. The anticipation of such legislative backing has immensely bolstered investor confidence in the market.
SOL’s strong network infrastructure is another key factor driving its surging popularity. Amid recent heightened market volatility, SOL has demonstrated resilience. The blockchain operated throughout the previous calendar year without any block production failure. This showcases tremendous enhancements within its network stability, reflecting its long-term potential as a blockchain network. The protocol had escaped experiencing network failures for almost two years, suggesting the network has immensely improved its tech infrastructure.
Lastly, the digital asset market has been witnessing a wider rally, with the largest token (BTC) rising beyond $100,000. This positive trend has spread into altcoins, including SOL. Market sentiment around SOL remains majorly positive. Investors and traders are optimistic that the asset will surge its values aligned with the current favorable market conditions. This confidence is backed by Solana’s scalability, its advancing ecosystem of DApps, and rising institutional interest.
