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SOL Price Drop Makes BNB Whales Pick It up Massively

Fri, 11/11/2022 - 15:26
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Gamza Khanzadaev
Solana (SOL) price rises as this group of investors fills Solana bags
SOL Price Drop Makes BNB Whales Pick It up Massively
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According to WhaleStats, Solana (SOL) has once again become one of the most bought cryptocurrencies by the largest BNB holders in the last 24 hours. Diving into the data, one can see that the average purchase size among the top 100 investors in this group was 60 SOL, or $1,010. In addition to Solana, there was also BNB whales' interest in DOGE, which, although in smaller volumes, was still being actively bought.

Whale buying came at a time when the SOL price rebounded from its March 2021 low. The cryptocurrency rose from $12.34 to $17.8, showing an increase of 45% in relative terms. However, the current rise does not yet cover a third of the decline that Solana had to endure as a result of the massive sell-off following the FTX crash.

Solana's state of affairs

While the SOL price is taking investors on a rollercoaster ride, official Solana sources are responding by noting the performance of the blockchain and generally seeming to focus more on this particular aspect.

Earlier, the Solana Labs team presented a thread describing the current state of the blockchain. According to it, Solana now has 3,621 nodes running and 2,160 validators, with 11.5 million active accounts. After the departure of Hetzner, a new portion of Solana validators will move to Google Cloud as part of a formal partnership.

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About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.