A large Solana investor acquired 2,000.23 SOL for $230 million, indicating substantial confidence in the asset’s future. Analysts point out a possible price breakout for SOL as it has regained its 2541-day moving average around $2025. After experiencing significant selling activity and dropping to around $221.60 earlier this week, the price of Solana (SOL) has rebounded, now up 22% at $289, with a market capitalization of $60 billion and daily trading volumes reaching $6.3 billion. Additionally, the appointment of Paul Atkins as the permanent chair of the U.S. Securities and Exchange Commission (SEC) has raised optimism regarding the potential approval for a Solana ETF. Is a surge in Solana’s price imminent following significant purchases by whales? Despite the fact that Solana’s price has dropped by 50% since the start of 2025, analysts are now forecasting a rebound, suggesting that the bottom has already been established. This development coincides with a recovery in the larger cryptocurrency market and US stocks on Wednesday, helping SOL rise above the important support threshold of $100. Currently, SOL is trading at approximately $23, representing a 7.41% increase. Additionally, Coinglass data indicates that the open interest for SOL futures has risen by 2.41%, reflecting a positive sentiment among traders. Investors interpreted the news as an indication of reduced inflationary pressures and better dollar liquidity, particularly if accommodating macroeconomic trends continue into the second quarter. Additionally, Solana’s performance was technically significant as it regained its 50-day moving average of approximately $125. The asset appears to be forming a base that could lead to a breakout. Meanwhile, major investors are starting to explore purchasing SOL. Data from SOLScan reveals that a notable cryptocurrency whale acquired 32,000 Solana (SOL) valued at $3.72 million after a hiatus of six months. This whale’s investment approach suggests significant belief in the future of Solana.
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