- Whale accumulation and a $487M transfer suggest Solana is entering a stealth accumulation phase, supported by strong network upgrades and growing social buzz.
- Despite cautious derivatives markets, fundamentals and on-chain signals point to increasing bullish potential for SOL.
Solana’s [SOL] market has seen a sharp uptick in activity, following the transfer of 3.5 million SOL—worth approximately $487 million—between unknown wallets. Unlike many large token movements that route through exchanges, this transfer did not trigger immediate sell-offs, raising speculation that this could mark the beginning of a strategic accumulation phase by whales.
Around the same time, short liquidations surged to $339,500, vastly outpacing $70,900 in long liquidations, according to Coinglass. This imbalance hints at mounting pressure on short-sellers, which could give well-capitalized players an opportunity to reposition before a potential rally.
Also read: Pi Network Price Struggles Despite 100-Day Ecosystem Boom — Can Real-World Adoption Drive a Rebound?
Solana’s Resilient Ecosystem Attracts Big Money
Fundamentally, Solana’s network continues to strengthen. The blockchain recently logged 16 months of uninterrupted uptime—a milestone few networks can claim—despite periods of record usage, including 200 million daily transactions and $39 billion daily DEX volume.
Recent infrastructure upgrades, such as Frankendancer, Pinocchio, and the Jito-based scheduler (which improved fee throughput by 80%), have significantly enhanced scalability and user experience. With validator participation hitting all-time highs and 100% of priority fees now going to stakers, Solana’s on-chain economics remain robust.
Are Whales Redeploying Stablecoins Into SOL?
Supporting the thesis of accumulation, on-chain data from Santiment shows that whales holding over $5 million in stablecoins increased their holdings sharply in May and early June, peaking above 56% of stablecoin supply. More recently, this figure has dipped to 53.28%, suggesting that whales may be rotating capital into riskier assets—potentially including SOL.
This aligns with the recent $487M wallet transfer and the short squeeze dynamic, pointing to sophisticated positioning as whales anticipate further upside.
Market Caution Remains, but Sentiment Shifts
Despite these bullish signals, derivatives markets remain cautious. The OI-Weighted Funding Rate stands at -0.0003%, reflecting hesitation among leveraged traders. Until funding rates turn decisively positive, this caution could limit near-term upside momentum.
Nevertheless, Solana’s social dominance is rebounding, reaching 4.34% after dipping earlier in June. As discussions about whale movements and network upgrades spread across social platforms, retail attention is on the rise—a key ingredient for amplifying price action if technical conditions align.
SOL in Early Accumulation Phase
Current indicators suggest that Solana is in the early stages of a stealth accumulation phase, supported by whale redeployment, strong network health, and growing community interest. If SOL can reclaim $150 or maintain solid support around $136, the stage could be set for a broader rally.
As always, traders should watch funding rates, exchange inflows, and whale activity closely—these signals will likely determine whether Solana’s accumulation-driven momentum can translate into sustained price gains.