Solana Whale Appears to Time Another Dip as SOL Jumps 20%

A Solana whale with more than $20 million in realized profit from previous SOL trades appears to have timed another dip, buying $3.6 million of the token three days before it rallied more than 20%.

Specifically, the wallet, identified as GvHYQQ, acquired 47,535 SOL after more than two years of inactivity, according to blockchain analytics platform Lookonchain.

Its latest move follows a profitable trading cycle that began during market declines in 2023. In August and October that year, the trader accumulated 291,790 SOL for $6.82 million at an average price of $23.37. 

As SOL later advanced, the whale sold 191,789 tokens for $24.62 million at an average price of $128.36, generating more than $20 million in realized profit, according to Lookonchain.

Source: Lookonchain