What To Know
- Solana whale purchases $31.8M worth of SOL, signaling strong market conviction.
- Hyblock data shows Solana buy volume hits 100, indicating heavy bullish pressure.
- Rising funding rates suggest traders’ confidence in Solana’s potential breakout rally.
Macro factors such as global economic condition, geopolitical scenarios and several others affect markets including the cryptocurrency. However, apart from these, the big pocketed players in the market also have the clout to influence prices of multiple assets. This is the case as they have access to a massive amount of an asset and moving them often have prominent effects on prices. Recently, a similar move was made by Solana (SOL) whales that looked interesting. Ergo, let’s find out how much did the whale move and whether it can have an impact on SOL’s price in the near term.
Solana Whales make a Move!
Cryptocurrency markets possibly have the most fascinating entrants: the crypto whales. By definition, whales are persons or entities that hold an unusually large amount of a particular asset, with the power to influence the market on buying, selling, or moving such large volumes of tokens or coins. Their moves are watched closely, as such moves often act as early indicators of upcoming price trends. A whale opening or closing a position could give rise to speculation, start momentum, or instill fear in smaller investors.
The high-valued transaction came into light for Solana recently. Lookonchain, a famous X account conducting trackers on blockchain activity, revealed a major purchase by the wallet known as Whale 9PYSeq. A few hours back, this whale deposited 32.4 million USDC into Binance and withdrew 134,628 SOL, which was worth close to $31.8 million at the given time. Such an enormous purchase not only demonstrates a deep conviction upon the long-term value of Solana but is also often treated as a very bullish sign, as whales trade with much better knowledge and risk tolerance.
Whale 9PYSeq bought 134,628 $SOL($31.8M) 5 hours ago.
He deposited 32.4M $USDC to #Binance and then withdrew 134,628 $SOL($31.8M).https://t.co/s3Jh0ruOIr pic.twitter.com/OYdQiLfXVD
— Lookonchain (@lookonchain) September 20, 2025
Data released by Hyblock Capital echoed the speculation, with buying volume for Solana recording 100. This metric compares the buying pressure with selling pressure in a market; and readings near 100 denote powerful demand for buying. Historically, the higher the buying pressure hits toward these levels, the more chances a bullish rally has because it means accumulation overrides distribution.
At the time of writing, Solana was trading at $237.83, reflecting the volatility in the cryptocurrency market. Interestingly, while SOL has fallen around 2.5% over the past seven days, this marginal drop might be acting as a buy signal. For big-time whales and retail investors, buying this token at a slight discount could work out if bullish momentum comes back in the short term. This is a classic market concept where smart players usually buy dips in anticipation of stronger moves up soon.
Another factor supporting a bullish projection is the sharp increase in the funding rate for Solana. For a primer, funding rates are the payments received or given by traders in the long or short position in perpetual futures contracts. By paying these, the possibility of the contract price drifting away from the spot-market price is eliminated. When funding rates are positive and increase higher, generally, it will mean many traders get on long positions, hoping that price may rise. In that case, the long holders are paying the short sellers, indicating an imbalance that strongly favors bullish sentiment.
Put simply: an upward funding rate reflects confidence on the side of traders that the price of SOL is going to rise. This growing optimism, combined by whales accumulating and rising buy volumes, moves the facts to suggest that Solana may be preparing a breakout. Being that short-term volatility is always there – this goes for whales, who can sell just as quickly and correct – the exodus of whale activity, increased buying pressure, and soaring funding rates all working together may mean the recent accumulation is soon to be a good timeframe for rallying.
