A Solana whale has re-entered the market after more than two years of inactivity, purchasing 47,535 SOL worth approximately $3.6 million, according to on-chain data provider Lookonchain. The wallet, identified as GvHYQQ, previously accumulated 291,790 SOL in August and October 2023 at an average cost of $23.37 per token, spending roughly $6.82 million.
During the subsequent rally, the whale sold 191,789 SOL for $24.62 million at an average price of $128.36, locking in more than $20 million in realized profit. The latest purchase occurred while SOL trades near $75, adding a notable on-chain data point after the wallet's long dormant period.
Spot market flows have been mixed between August 5 and August 18. Data from Coinglass shows positive inflows of around $6.0 million to $6.3 million near August 8, followed by outflows approaching $3.5 million on August 7, August 11, and August 17, and another roughly $2 million outflow around August 18. SOL initially traded near $74, dipped to $72–$73, recovered toward $77–$78, and later found support around $74–$75. Analyst Crypto Patel described $60–$40 as a preferred accumulation zone, with upside targets at $300, $500, and $1,000.
