Solana whale buys dip after two years of silence. The wallet purchased $3.6 million in SOL.
The blockchain tracker Lookonchain flagged the purchase. SOL trades roughly 74% below its January 2025 record high.
Why Solana whale buys dip now
The buy totaled 47,535 SOL. The wallet is tagged GvHYQQ. It accumulated in 2023 before SOL began its climb.
The whale bought 291,790 SOL for $6.82 million. This happened across the August and October dips in 2023. The average price was $23.37 per token.
SOL then started climbing in late 2023. The whale sold 191,789 SOL for $24.62 million. The average price was $128.36. This locked in more than $20 million in realized profit.
The address stayed silent for over two years afterward.
“Now, after 2 years of inactivity, the whale is buying the SOL dip again,” Lookonchain said.
Arkham data shows the wallet still holds roughly 100,000 SOL. This is from its original 2023 stack. The fresh buy lifts that position to about 147,535 SOL. This is worth close to $11.1 million at current prices.
SOL price sits 39% lower this year
SOL changed hands near $75. The altcoin has moved little over the past 24 hours. It is down about 1% across the past month.
The token has shed roughly 39% year-to-date. Over 12 months, the decline reaches 59%.
The backdrop is split. Several on-chain signals turned bearish in mid-August. Exchange netflows flipped positive. DEX volume sat close to 80% below its April peak.
Institutional flows point the other way. Solana ETF inflows climbed to $10.26 million. This covers the week ending August 14. This is nearly 70 times the prior week’s total.
With the macro and geopolitical backdrop still volatile, the outcome remains uncertain. Whether the bet pays off a second time is an open question.