Solana Whale That Made $20 Million in 2023 Starts Buying Again
A Solana (SOL) whale that banked greater than $20 million in 2023 has resurfaced after two years, shopping for $3.6 million in SOL.
Blockchain tracker Lookonchain flagged the acquisition. This comes as SOL trades roughly 74% under its January 2025 document high.
Dormant Whale Buys $3.6 Million in Solana After Two Years
The purchase totaled 47,535 SOL. The pockets, tagged GvHYQQ, accrued in 2023, earlier than SOL started its climb.
It purchased 291,790 SOL for $6.82 million throughout the August and October dips that yr, averaging $23.37 per token. SOL then began climbing in late 2023.
The whale bought 191,789 SOL for $24.62 million at a median value of $128.36, locking in greater than $20 million in realized revenue. The tackle stayed silent for over two years afterward.
“Now, after 2 years of inactivity, the whale is shopping for the SOL dip once more,” Lookonchain said.
According to Arkham data, the pockets nonetheless holds roughly 100,000 SOL from its unique 2023 stack. The recent purchase lifts that place to about 147,535, price near $11.1 million at present costs.
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SOL Price Sits 39% Lower This Year
Meanwhile, SOL modified palms close to $75. The altcoin has moved little over the previous 24 hours. It is down about 1% throughout the previous month.
The token has shed roughly 39% year-to-date. Over 12 months, the decline reaches 59%.
The backdrop is break up. Several on-chain signals turned bearish in mid-August. Exchange netflows flipped optimistic, whereas decentralized change quantity sat near 80% under its April peak.
Institutional flows level the opposite method. Solana ETF inflows climbed to $10.26 million in the week ending August 14, practically 70 occasions the prior week’s complete.
With the macro and geopolitical backdrop nonetheless unstable, whether or not the guess pays off a second time is an open query.
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The publish Solana Whale That Made $20 Million in 2023 Starts Buying Again appeared first on BeInCrypto.
