A wallet tracked by on-chain analysts has resumed buying Solana after roughly two years of inactivity, according to reports from BeInCrypto, Watcher.Guru, CoinTurk News and AMBCrypto. The address is described as belonging to a whale that earned an estimated $20 million from Solana positions built up in 2023.
The wallet's latest purchase totals about $3.6 million worth of SOL, based on transaction data cited across the reports. AMBCrypto notes the whale's original 2023 entry price was around $23.37 per token, a figure far below current SOL levels. The renewed buying is being framed by some outlets as a repeat of the whale's earlier accumulation strategy.
Whale activity of this kind draws attention because large wallets can signal shifts in market sentiment among sophisticated holders. Analysts who track on-chain flows often treat repeated buying patterns from historically profitable addresses as a data point worth monitoring, though such activity does not guarantee similar outcomes going forward.
Solana has been one of the more closely watched layer-1 networks in recent years, following periods of volatility tied to broader crypto market cycles, network outages, and shifts in decentralized application activity. Renewed accumulation by a wallet with a documented profitable history adds another layer to ongoing discussion about SOL's near-term trajectory.
AMBCrypto's report ties the whale's move to a conditional price level near $78 for SOL, framing it as a threshold tied to certain technical or on-chain conditions rather than a guaranteed outcome. Other outlets covering the story focus more narrowly on the transaction size and the two-year gap in the wallet's activity, without elaborating on specific price targets.
The reports do not specify the current unrealized position size of the wallet or whether the $3.6 million purchase was executed in a single transaction or across multiple trades. Details such as the exchange or protocol used, and whether the whale has disclosed further buying intentions, were not included in the available coverage.
Market Impact
Large wallet purchases can influence short-term sentiment in relatively liquid but still concentrated markets like Solana's. Traders monitoring on-chain data sometimes interpret renewed whale accumulation as a signal of confidence, particularly when the wallet in question has a documented history of profitable timing.
However, a single wallet's activity does not determine broader market direction. SOL's price will continue to be shaped by macro conditions, exchange flows, network developments, and overall crypto market sentiment, independent of any one holder's decisions.
The whale's return to buying SOL after a two-year gap has added a fresh data point for traders watching Solana's on-chain activity, though the reports stop short of confirming any guaranteed price outcome.
Frequently Asked Questions
What did the Solana whale do?
According to blockchain trackers cited by multiple outlets, the wallet purchased about $3.6 million worth of SOL after roughly two years without activity.
How much profit did this whale make previously?
Reports state the wallet earned an estimated $20 million in profit from Solana trades made in 2023.
Does this mean SOL's price will rise?
No. The reports describe on-chain activity and one outlet references a conditional price level near $78, but none of the coverage guarantees a specific price outcome.
What was the whale's original SOL purchase price?
AMBCrypto reports the whale's 2023 entry price was approximately $23.37 per SOL, well below current market levels.