The Big Whale Has Gone All In: Accelerating Heavy Buying in This Altcoin
According to on-chain analytics data, an address that has been regularly accumulating Solana (SOL) through over-the-counter (OTC) transactions since late April has significantly increased its purchases in recent days.
According to the analysis, the address in question purchased 249,500 SOL (approximately $46.78 million) through the FalconX and Wintermute platforms in the last 4 days alone.
This address reportedly purchased a total of 827,000 SOL (approximately $146 million) since the end of April, staking all of these assets. The average purchase price was calculated at $177.
At the time of writing, Solana is trading at $194. SOL had fallen from $260 to as low as $8 during the massive FTX crash at the end of 2022 due to the large holdings of SOL coins by Alameda Research, a company owned by the defunct exchange. This year, SOL broke records, reaching an all-time high of $294 in January.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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