Solana Whales Bet Big Ahead of Network Upgrade

Solana's upcoming network upgrade has sparked $9.11M in long positions from whales, despite a bearish futures market.

Between September 7 and 8, five whale addresses on Hyperliquid opened these long positions in Solana (SOL), positioning for a rebound before the upgrade on September 9.

The upgrade will increase Solana's maximum transaction size from 1,232 bytes to 4,096 bytes, more than tripling the current ceiling. Analyst Crypto Tony said this change should allow multiple transactions to be bundled into one, reducing a structural bottleneck and potentially improving Solana's position against Ethereum (ETH).

The broader futures market is less bullish, with negative funding, a 0.92 long-short ratio, and lower derivatives activity.