A major Solana whale’s buyback at a higher price is stirring fresh optimism around the cryptocurrency’s near-term trajectory.
By Parth Dubey
Editor Julia Sakovich
Updated
3 mins read
A Solana SOL $139.4 24h volatility: 1.4% Market cap: $72.20 B Vol. 24h: $3.72 B whale has reentered the market with a $52.78 million purchase at $141, just days after offloading nearly half a million SOL tokens at a much lower price point of $115.
The bold move flagged by Lookonchain left many wondering if this is a calculated accumulation or a blunder.
A whale withdrew 374,161 $SOL($52.78M) from #Binance at $141 one hour ago.
Interestingly, this whale sold 451,594 $SOL for 51.86M $USDC at $115 between Apr 9 and Apr 13.
Selling low and buying high? Bold strategy.https://t.co/gVEoLdKX5j pic.twitter.com/SP3gbg31WN
— Lookonchain (@lookonchain) April 21, 2025
The purchase coincides with a 50% uptick in 24-hour trading volume, according to CoinMarketCap. The sixth-largest cryptocurrency is up 9% over the past month, currently trading around the $140 mark.
Meanwhile, data shared by popular crypto analyst Ali Martinez suggests that the number of wallets holding over 10,000 SOL has increased by 1.53% in the past week. This signals growing investor confidence in the cryptocurrency’s long-term potential.
The number of wallets holding over 10,000 #Solana $SOL has risen by 1.53% in the past week, climbing from 4,943 to 5,019. A subtle but notable uptick in large-holder activity! pic.twitter.com/5uNloqRElj
— Ali (@ali_charts) April 19, 2025
The Solana network is outperforming some of the industry’s biggest names. In the last seven days alone, it recorded 28.4 million active addresses — more than Ethereum ETH $1 631 24h volatility: 3.2% Market cap: $197.26 B Vol. 24h: $11.69 B , Bitcoin BTC $88 037 24h volatility: 4.1% Market cap: $1.75 T Vol. 24h: $31.26 B , and other top-tier blockchains.
Interestingly, later on April 20, Solana also briefly overtook Ethereum in terms of total staked value. This “flippening” was partially fueled by SOL’s stronger performance relative to ETH over the past two years, where the SOL/ETH ratio jumped almost 10x since June 2023.
Pseudonymous analyst CryptoCurb recently predicted a 1,300% surge in SOL price in the long-term. In an X post, they cited impressive network metrics and set a $2,000 price target for the token.
“How does Solana get to $2k”
$2k $SOL = $1T market cap
ETH ran to $0.6T market cap last cycle.
ETH was also UNUSABLE (>$500 transaction fees) at >$100B mc.
$2k is absolutely realistic IF solana keeps its global adoption pace with minimal disruptions/continues to scale. https://t.co/gMyIDZqpp4
— curb (@CryptoCurb) April 20, 2025
On the daily SOL price chart, the RSI is currently at 58.78 with an upward gradient. This suggests bullish momentum with key resistance around the $145–$150 range.
SOL price chart | Source: TradingView
Bollinger Bands are widening, with the price now pushing against the upper band. This often indicates increased volatility and a potential breakout scenario, with the mid-band (20-day SMA) acting as key support near $124.
Meanwhile, the MACD line is above the signal line and both are in positive territory, a classic bullish signal. However, traders should watch for a possible bearish crossover if buying momentum fades.
SOL price chart | Source: Trading View
Crypto investor Ted Pillows suggested that Solana’s current fractal mimics the bottoming pattern of late 2022. He predicted a rally toward $160–$180 by May and floated the possibility of a new all-time high by Q3 2025.
$SOL current fractal looks similar to Q4 2022.
The lower lows which formed the bottom and resulted in capitulation.
Now, I'm expecting a Solana rally towards $160-$180 by May and probably a new ATH in Q3 2025. pic.twitter.com/AnaVI76BTT
— Ted (@TedPillows) April 20, 2025
It is important to note that SOL is currently trading with a 52% drop from its peak of $294, achieved on Jan. 19, 2025.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.
