Solana Jumps 9% As Whales Quietly Accumulate Millions—Details
The whale behavior at Solana market is causing another commotion, but in a good way. The value of the token climbed 9% to about $137. A large number The money-making personthey are called “whales” and are devouring a large number of Solana Crypto. Technical signals show that momentum is strong and the growing interest in opening up has made traders optimistic and stick to their CEL Phone or PC screens.
Whale invests millions of dollars
A major investor bought 50,000 sols worth nearly $7 million, according to Lookonchain data. There are other whales that fixed 41,096 sols, or $6.9 million. By reducing the supply currently in use, these purchasing activities can help stabilize prices.
The appetite of this whale is not new Solana. Historically, a large number of acquisitions have led to price increases, and traders expect this trend to continue.
Whales are accumulating $ solWoolen cloth
ahdumw…qmnj withdrew 54,544 $ sol(USD 7.46 million) #binance 2 hours ago.
7i6fur…KP5J withdrew 41,096 $ sol(US$6.96 million) #binance 1 hour ago, fix it.https://t.co/cvcpgvekarhttps://t.co/ksy2f5uzbahttps://t.co/uewsxsnvlr pic.twitter.com/pca0mgedju
– lookonchain (@lookonchain) February 28, 2025
Solana Futures’ open interest has increased from $2.2 billion to $2.7 billion, indicating that players with leveraged holdings are still interested. As the moving average converges, the strong signal flickers, the relative intensity index is approaching the negligence area.
There are some technical signs that support the upward trend. After reaching 68, RSI is now close to overpriced areas. Some traders may think that if the 70 mark is exceeded, it will drop.
MACD says buying momentum remains strong. Traders often use this to determine whether the asset has potential for further growth or whether it is reversed or reversed.
Historical whales accumulation and sol prices rise
Historically, whale activity has been an important factor in Solana’s price transfer. sol As whales purchased whales’ tokens in just two days, the all-time peak in November 2024 reached $262.
Since late October 2024, a whale has accumulated 257,000 sols, reaching nearly $54 million. This has resulted in Solana’s market capitalization exceeding $100 billion, making it one of the most outstanding altcoins on the market.
The road ahead of Thor
As whales continue to increase their stakes and open interest is increasing, Solana’s short-term prospects are favorable. As RSI approaches overbought territory, traders should remain vigilant to indicate potential corrections.
Currently, the bullish momentum has not diminished and as past trends suggest that whales may indicate more upward movement. Solana’s ability to maintain this trend depends on the duration of buying pressure and the influx of new investors.
Featured images from Asa-Leb, charts from TradingView
