Solana Whales Load Up on SOL Ahead of Transaction v1 Upgrade

Solana whales have been actively buying SOL ahead of the network's upcoming Transaction v1 upgrade, which is set to increase the maximum transaction size from 1,232 bytes to 4,096 bytes.

According to data from Hyperliquid, a single whale address has purchased 285,503 SOL worth approximately $28.82 million over the past three weeks. Meanwhile, five whale addresses have opened around $9.11 million in long positions on September 7 and 8.

The Solana price has been trading near $104, up 2% over the last 24 hours, as whales continue to build exposure before the major network update.

The Transaction v1 upgrade is expected to support bigger cryptographic proofs, multisignature payments, and confidential transfers. However, services that read Solana data will need to recognize the new format, and outdated software may fail or display incorrect information when encountering v1 transactions.