Solana Whale Buys $8 Million, Ending Two-Year Decline
Solana (SOL) has ended its longest stretch of declining months since September 2025, closing its first positive monthly candle in nearly two years. The token's price rose to near $103 by the end of August, after a prolonged downtrend that pushed it from highs above $250 in late 2025 to lows around $60.
A key whale investor returned to the market during this period, purchasing approximately $8 million worth of SOL in a single transaction. The whale's wallet address, 6ESYXA, had been inactive for eight months before making the purchase from Hyperliquid.
The renewed activity from the whale has sparked speculation among traders and analysts about whether it will hold onto its position or engage in further trading strategies. Despite SOL's strong rebound this August, with a gain of around 40-50%, its price has since pulled back, underscoring the volatile conditions in early September.
The token is currently trading near $102.47 after falling 1.28% in the past 24 hours. Traders have continued to favor derivatives, with futures volume around $7.82 billion and open interest standing at roughly $6.64 billion. This indicates high levels of speculative activity, which can lead to sharper price movements if leveraged positions unwind.