- Solana “smart whales” bought $18.5 million of SOL tokens in a single day.
- Top crypto expert, VIPRose, predicts SOL could rally to $296, fueled by whale activity and potential ETF approval.
The big players in Solana are making waves again! In a surprise move, two heavyweight investors just jumped back into the game, scooping up a whopping $18.5 million worth of SOL in a single day.
One of these veterans, who’d been sitting on the sidelines for almost a year (wallet “GJwCU”), suddenly sprung to life and grabbed nearly 31,000 SOL tokens, that’s about $6.24 million. And get this, they’ve already pocketed over $8 million from their previous SOL trades.
But that’s not all. Another dormant giant (wallet “5qDx”) woke up from a two-month nap and went even bigger, buying over 61,000 SOL tokens worth $12.4 million. When experienced players like these start making big moves, people tend to pay attention.
The timing’s interesting too, with all the buzz around a potential Solana ETF in the air. Some experts are feeling so bullish they’re throwing out predictions of SOL hitting $296.
ETF Approval Could Boost SOL Prices
There’s some good news that’s getting people excited. When Grayscale filed to turn their Solana Trust into an ETF, the SEC didn’t just brush it off, they officially acknowledged it on February 6th. That means we’ve got a deadline to look forward to in October. It’s got quite a few industry insiders betting that Solana might have a shot at getting that ETF approval!
Bloomberg’s senior ETF analyst Eric Balchunas explains why the SEC’s acknowledgement of SOL is important. He states, “Notable bc this is the first time an ETF filing tracking a coin that had prev been called a “security” has been acknowledged by SEC.
Only six weeks ago the Genz-led SEC told CBOE to withdrawal their Solana 19b-4. So we are now in new territory, albeit just a baby step, but seemingly the direct result of leadership change.”
But it’s not all smooth sailing for Solana. The legal situation is pretty messy right now. The SEC has been giving them a hard time, claiming SOL should be treated as a security. This is causing real headaches for anyone hoping to see a Solana ETF anytime soon.
Bloomberg’s James Seyffart thinks we might be waiting until 2026 before the SEC gives the green light, mainly because of all these lawsuits flying around against major crypto exchanges.
Current SOL Price and Market Sentiment
Today, SOL’s price is $203.76, up 1% in the last 24 hours with a trading volume of $3.93B. The token has experienced volatility, with prices ranging between $199.59 and $208.83. Despite this, analysts remain optimistic. Crypto expert ‘VipRoseTr’ highlighted that SOL is holding strong support levels and could soon reach $296. If this happens, SOL might even break past $300, marking a new high for the cryptocurrency.