2024

Solana

Daily

Coin

<p>A crypto whale has caught the attention of investors by increasing its&nbsp;<a href="https://www.thecoinrepublic.com/price-prediction/solana/">Solana (SOL)</a>&nbsp;holdings to $54 million, according to BlockBeats.</p> 
<p>Lookonchain, a blockchain monitoring service,&nbsp;<a href="https://solscan.io/account/AA21BSr7LZAdkyv7UF4EuMDnNEeczjmaDQWBa1rcVxH9">reported</a>&nbsp;that on November 11, the whale address starting with “AA21” added 7,500 SOL, valued at approximately $1.57 million. This latest addition builds on a series of purchases that have totaled 257,599 SOL since October 22, highlighting the whale’s belief in Solana’s potential.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Whales are accumulating <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> and the market cap of <a href="https://twitter.com/hashtag/Solana?src=hash&amp;ref_src=twsrc%5Etfw">#Solana</a> surpasses $100B today!<br><br>Whale"AA21…VxH9" accumulated 7,500 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($1.57M) again today.<br><br>The whale has accumulated a total of 257,599 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a>($54M) since Oct 22.<a href="https://t.co/1vpVWG5SSK">https://t.co/1vpVWG5SSK</a> <a href="https://t.co/Lom4sRAnOT">pic.twitter.com/Lom4sRAnOT</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1855659185691922878?ref_src=twsrc%5Etfw">November 10, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>The whale’s holdings reflect a growing interest in Solana, a blockchain platform known for its fast transactions and low fees, which makes it attractive for decentralized applications (dApps) and DeFi. This steady accumulation could be a bullish sign, as large investors often have insights and resources that inform their decisions, potentially signaling future trends.</p> 
<h2 class="wp-block-heading" id="strong-whale-activity-signals-bullish-market-sentiment-strong"><strong>Whale Activity Signals Bullish Market Sentiment</strong></h2> 
<p>The whale’s accumulation mirrors a broader interest among institutional and high-net-worth investors in promising blockchain projects. Large purchases like these often indicate confidence in an asset’s long-term potential. Whales, known for influencing market sentiment, can sway prices, especially in networks like Solana, where whale holdings are significant.</p> 
<p>With a market cap of roughly $54 billion, Solana ranks among top blockchains, attracting developers and investors seeking blockchain alternatives to Ethereum.</p> 
<p>As adoption in DeFi, NFTs, and Web3 applications grows, Solana’s speed and cost efficiency strengthen its appeal. For investors, the whale’s SOL accumulation may signal optimism about Solana’s long-term value in a maturing crypto market.</p> 
<p>Whale activity offers clues into market sentiment and trends. For retail investors, this Solana whale’s buying spree could suggest Solana’s potential as a solid investment, especially if other large investors follow suit. Whale accumulations may attract additional investments and trading volume, shaping market dynamics and increasing attention on Solana’s growth trajectory.</p> 
<h2 class="wp-block-heading" id="strong-solana-price-analysis-strong"><strong>Solana Price Analysis</strong></h2> 
<p>The crypto market remains under bullish control following the weekend, with&nbsp;<a href="https://www.thecoinrepublic.com/2024/11/10/is-solana-sol-price-primed-for-ath-with-strong-weekly-structure/">Solana leading gains</a>. </p> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="804" height="469" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-5-2.png" alt="SOL/USDT Daily Chart" class="wp-image-825161" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-5-2.png 804w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-5-2-300x175.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-5-2-768x448.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-5-2-150x88.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/11/image-5-2-696x406.png 696w" sizes="(max-width: 804px) 100vw, 804px">
 <figcaption class="wp-element-caption">
  <em>SOL/USDT Daily Chart</em>
 </figcaption>
</figure> 
<p>According to CoinStats, SOL has climbed 3.3% in the last 24 hours, breaking above its local resistance at $212.38. If this momentum holds and the daily close is well above this level, SOL may soon test the $230-$240 range.</p> 
<p>On the larger time frame, SOL continues its upward trend after a strong close yesterday. For now, traders are watching the $215.27 mark closely, as maintaining momentum above this level could pave the way for a push toward $240.</p> 
<p>Looking at the weekly chart, SOL appears to have gathered enough strength for further midterm growth. With sustained buying pressure, the token might target the $250 level by month’s end. Currently, SOL trades at $218.02.</p> 
<p>The post <a href="https://www.thecoinrepublic.com/2024/11/11/whale-boosts-solana-holdings-to-54m-amid-accumulation-spree/">Whale Boosts Solana Holdings to $54M Amid Accumulation Spree</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.</p>

Whale Boosts Solana Holdings to $54M Amid Accumulation Spree

Table of Contents

Thecoinrepublic.com

Other articles published on Nov 12, 2024

Bitcoin nears $90k, long-term holders wake up

Aptos Bulls Eye $25: Can Rising TVL Help Price Skyrocket?

Kast Launched Global Stablecoin Access with Crypto Card

3 Ethereum Tokens That Will 10x if ETH Breaks $4861 ATH

Bybit Sees 61% Surge in Monthly Futures Trading Volume, Reaches $639B

Solana Hits Record $4.28B Open Interest – SOL Breaks 8-Month Price Barrier

Join our free newsletter for daily crypto updates!