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Crypto

Solana Whale Bets Big on Bullish Momentum

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SOL USDC
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A whale investor has made a significant bet on Solana (SOL), opening a 20x long position worth $22.78M.

The mysterious whale deposited 8.43M USDC into a new wallet and placed a TWAP order to buy 500K SOL at the current market price of $45.59.

According to the order, 199,838 SOL were filled for $15.2M, leaving 300,162 SOL yet to be executed.

The whale's bet comes as Solana trades at $75.89, just below its upper resistance of $76.68 on the 4h chart.

The technical indicators suggest a bullish momentum, with the MACD golden cross confirming a potential breakout.

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