Crypto Whales Drive Solana to New ATH, Fueling Bullish Momentum

Solana is gaining significant attention once more, reaching a new all-time high (ATH) and sparking excitement in the market.

This surge is driven by a wave of whale buying activity, leading to growing optimism among investors. As Solana continues its upward trajectory, analysts are predicting even greater gains in the near future.

Data from Lookonchain on November 22 reveals a surge in whale investments, coinciding with Solana’s recent price rise. One particularly notable transaction saw a wallet, “Au1VJ…q8hF8,” scoop up 42,443 SOL, worth over $11 million, from Binance within a span of just two days.

Additionally, another whale added 100,000 SOL, valued at approximately $23.86 million, and proceeded to stake them, pushing their total holdings to $55.58 million.

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These large-scale purchases point to increasing confidence in Solana’s potential, adding to the overall bullish sentiment. The influx of whale capital, coupled with growing speculation about a potential Solana ETF, has amplified the excitement around the cryptocurrency.

Sources indicate that the SEC is now in discussions with Solana ETF issuers over their S-1 registration filings, while Bitwise has recently filed its own Solana ETF application, further heightening interest in the asset.

With whales continuing to accumulate and institutional players getting involved, Solana’s market position looks stronger than ever, leaving investors eager to see how the price moves in the coming weeks.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.