Solana’s SOL The price of bitcoin is slowly rising after being stuck under $130. The asset’s price is $134.82 at the time of publication, an increase of 5% for today and almost 4% over the last week. The trading volume for SOL has also increased, rising by 23.59% within 24 hours. Solana’s native token has been green for some time now, which is attracting whales. A particular one bought SOL in millions.
The whale population around SOL increased in recent days. Solana’s whale bought 34,807 SOL Tokens for $4.52 Million, which boosted SOL’s price on Tuesday by 4.26%. In the 24 hours following this transaction, trading volumes increased by 41%. The whale has placed approximately 207,000 Sol, totaling over $30 million, in his own custody since February. They also bet 115 135 SOL tokens worth $15 million after Tuesday’s purchase.
In a gloomy note another whale On the same day the whale made a massive sale, probably thinking that this was a great time to sell the SOL token. The whale, who held a substantial amount of SOL, sold 20,000 tokens at $2.66m for a total price of 20,000 SOL. stake This whale sold 1.84M SOL. The whale, since the beginning of this year, has sold approximately $102 million worth of SOL. The whale still owns 1.84 million SOL valued at approximately $246 million.
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A Potential Solana SOL Rally is Fueled by Whale Activity
A crypto-whale’s activity can be a catalyst for positive reactions in the price of a coin. They have also been known to work On the Solana Network, you can use the native SOL Token or Solana Meme Coins. Increased market activity also creates hype around SOL and bullish predictions.
Solana SOL recovered from an enormous tank in just two years. In November 2022 the asset price plummeted after FTX collapsed, and fell below $10. SOL briefly exceeded the $200 level in early this year, but since then has fallen below $140. Bulls hope to ride the wave of Solana back up toward $200 and even beyond.
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SOL’s current price is $134. This puts it slightly above the short-term resistance of $133.37. The rising Relative Strength Index indicates a constant uptick of demand, partly thanks to Solana’s crypto whales. SOL could see a rally if Bitcoin (BTC), which has lost its momentum recently, regains it. SOL is often compared to Ethereum (ETH), as many projects use the SOL platform.
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Source: watcher.guru