Solana Whales Revive Market with Record-Buying Spree

Solana's price has been consolidating and trading sideways after reaching $110 in the past, but recent buying activity from high net worth investors may indicate a shift in sentiment.

A whale who had gone dormant for eight months returned to buy $8 million worth of SOL from Hyperliquid. This comes on the heels of another two whales purchasing $33.5 million worth of SOL just a day earlier.

The recent buying activity has led to a surge in demand, with Solana Spot ETFs recording $138 million in net inflows over the past week. This trend is expected to continue as investors become more optimistic about the market's potential for gains.

Indicators such as ADX and SMA suggest that the trend is still bullish, with the Bull-Bear Ratio holding positive. If investors continue to buy and futures turn to opening new positions, Solana's price may close above $105 and target a flip of $110 where the trend collapsed.