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Solana’s Fresh Rally Gains Momentum As Whales Stock Up

Solana (SOL) is one of the leading blockchain networks known for its high-speed transactions and scalability. It has recently captured the attention of crypto market participants once again. 

Early Tuesday morning, a prominent whale executed a major transaction involving SOL. The entity acquired over $4 million worth of tokens in a single move. This significant move sparked a 4.30% surge in SOL’s price, currently trading at $135 (SOLUSDT) on Gate.io. Its trading volume also skyrocketed by 42% over the last 24 hours.

Whale is a term used to describe individuals or entities that hold large amounts of cryptocurrency. Whale activity often plays a critical role in shaping the market sentiment of cryptocurrencies. 

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With a fresh rally underway, this article delves deeper into the recent whale activity. It analyzes what it could mean for Solana’s price outlook in the coming days.

The Whale Activity Amplified Bullish Sentiment for SOL

These large holders can drive significant price movements. They can either fuel market rallies through accumulation or dampen prices by selling off large portions of their holdings. In Solana’s case, this latest whale purchase contributed to a spike in both price and trading volume. It further amplified the bullish sentiment that has been building around the coin.

This event is just the latest chapter in an ongoing story of diverging strategies among large SOL holders. While some whales are accumulating tokens and staking them for long-term gains, others have been steadily reducing their positions. As a result, the Solana market has become an arena of contrasting moves. Bullish investors in this market are preparing for an extended rally while more cautious players hedge their bets.

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In this context, SOL has emerged as one of the most closely-watched cryptocurrencies, with market participants anticipating its next move. 

Diverging Strategies Among Solana Whales

The whale behind this major acquisition has been steadily accumulating SOL tokens. Since February, they’ve transferred around 207,000 SOL (valued at more than $29 million) into self-custody wallets. Following Tuesday’s purchase, the whale staked 115,135 SOL, valued at $15.3 million, as part of their strategy.

Conversely, another prominent whale has adopted a more cautious approach, consistently offloading their SOL holdings. According to data from on-chain analyst Lookonchain, this particular whale sold 20,000 SOL, worth $2.67 million, on the same day. They’ve sold approximately 716,000 SOL throughout the year, representing a massive $103 million liquidation. Despite these large sell-offs, the whale still retains a significant amount of SOL, holding 1.85 million tokens valued at roughly $247 million.

Despite these contrasting strategies, SOL has enjoyed a 5% price increase over the last 24 hours. In the derivatives market, trading volume increased by 35% as traders took on more long positions. Coinglass data indicates that SOL’s funding rate across major exchanges has remained positive since the weekend, currently standing at 0.0044%. A positive funding rate in perpetual futures contracts typically signals heightened demand for long positions, suggesting that traders are increasingly betting on SOL’s upward momentum rather than a price drop.

SOL Price Outlook: Eyeing a 17% Surge

At its current price, SOL has broken past its short-term resistance at $133.37, with technical indicators suggesting more gains could be ahead. The rising Relative Strength Index (RSI) reflects growing demand for the altcoin, which could fuel further price appreciation.

If this trend holds, SOL could experience a further 17% price increase, potentially reaching $160. However, if traders begin to take profits, the price could retrace to $108, a level last seen on August 5, when over $1 billion in liquidations occurred. As whales continue to drive market dynamics, the next few days will be crucial for SOL’s price trajectory.

As for 2025, Solana (SOL) might see considerable growth fueled by its technological advantages and increased adoption in the blockchain space. Many analysts are optimistic about its future, projecting substantial price increases as the cryptocurrency market matures.

By 2025, Solana could also potentially reach new all-time highs. Some forecasts suggest that SOL may rise as high as $667 by the end of 2025. That will represent a 274% increase from current levels. 

More bullish predictions point to even higher gains, with estimates suggesting SOL could experience up to a 500% increase. It will push the SOL price to around $940. These predictions are largely driven by Solana’s technological strengths, such as its high transaction speed (up to 710,000 transactions per second) and low transaction fees, which make it a strong competitor to Ethereum. However, as with all cryptocurrencies, these predictions come with risks, as competition is never stationary. 

Disclaimer

The contents of this page are intended for general informational purposes and do not constitute financial, investment, or any other form of advice. Investing in or trading crypto assets carries the risk of financial loss. The forecasted data (also called “price prediction”) on this page are subject to change without notice and are not guaranteed to be accurate.

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