Whale Traders Bet Big on Solana Rebound Ahead of Network Upgrade

Solana's price has been trading around $102 after a 2% drop on Tuesday, but several large derivatives traders have placed significant bets on a rebound.

According to CoinGlass data, five whale addresses on Hyperliquid opened a combined $9.11 million in Solana ($SOL) long positions between September 7 and 8.

This comes ahead of the Solana network upgrade scheduled for September 9, which will increase the maximum transaction size from 1,232 bytes to 4,096 bytes.

While this upgrade could support renewed buying demand, broader futures metrics remain bearish, suggesting that the whales are taking a contrarian position against prevailing market sentiment.

The concentration of bullish positions among a small number of large traders does not guarantee a rally, but sizable whale activity can influence sentiment, particularly when it occurs before a major protocol change.