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A Solana (SOL) whale has stirred the market’s attention after it woke from 365 days of dormancy to make a bullish bet on the altcoin. As tracked by an on-chain platform on X, Lookonchain, the long inactive wallet has withdrawn 80,000 SOL from the Binance exchange into a private wallet.
Exchange withdrawal suggests long-term SOL accumulation strategy
The fiat value of the moved assets is approximately $10.87 million at the current market rate. Many in the Solana community are excited about this move as it signals a possible rally might soon be at play. The community members are keen on tracking the whale’s next move.
Notably, for such a large holder, moving that volume of Solana from Binance could suggest that they are active again after one year. The withdrawal also signals that the whale does not intend to sell anytime soon but wants to hold SOL in the long term.
If the Solana whale plans to sell, they would have left their asset on the exchange for quick disposal when the market price is right. However, it is the movement to a private wallet amid market volatility that has triggered bullish anticipation in the ecosystem.
A user stated that the Solana whale wallet "woke up with purpose."
Others are keen on understanding the whale, their motive and whether it is an old miner behind the wallet or a bold player placing a huge bet on Solana’s future price outlook.
Solana struggles below key support despite whale activity
Solana has shed $5, dropping from a daily trading peak of $140.42 to a low of $135.05 as volatility continues in the market. As of this writing, Solana was trading at $136.39, representing a 1.33% decline over the last 24 hours.
The coin’s trading volume is also struggling and down by 24.42% to $3.76 billion. This is largely due to the failure of Solana’s price to hold above the critical $137 support. As soon as the coin breached this support, it triggered sell pressure.
On the positive side, U.Today reported that Solana might record expanded growth in 2026, given it is the second biggest ecosystem in terms of developer activity. The blockchain is anticipating the Alpenglow upgrade in the first half of the year. This is expected to reduce transaction time to within 100-150 milliseconds, making it faster than the Google search engine.
Investors have always favored the Solana blockchain due to its transaction throughput, and the upgrade could further drive adoption and impact the price positively.
Godfrey Benjamin
Tomiwabold Olajide
Caroline Amosun
Vladislav Sopov
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