Solana News Update: Major Solana Investor Exits Large SOL Position While Top ETH Players Double Down
- A Solana whale sold 30,678.76 SOL ($1.265M loss), leaving $22.74M in unrealized losses amid shifting whale strategies. - Contrasting moves see "Smart Money" whale adding $9.96M in ETH (2,621.95 tokens) to a $62.35M leveraged long position. - Market fragility grows as $222.7M in short losses reported, with Ethereum's $41–$42 support level critical for short-term price action. - Institutional crypto derivatives activity rises, including SEC's $1B HYPE staking application and Binance's large ETH orders. - W
A significant
This stands in contrast to other whales who have increased their positions in
The Solana whale's decision mirrors a wider trend of investors seeking safety amid market swings. Recently, a veteran
Analysts point out that Ethereum’s crucial $41–$42 support range could shape short-term price moves, with leveraged trades increasing risk. Hyperliquid’s derivatives market is seeing more institutional activity, including a $1 billion SEC staking application for HYPE and substantial ETH orders on Binance. Despite these changes, the crypto market remains unstable, with $222.7 million in short liquidations and $182.6 million in long gains recently reported.
The Solana whale’s losses highlight the dangers of leveraged trading. While the average entry price for SOL was $198.22, the current market has wiped out gains from previous rallies. In comparison, the "Smart Money" whale’s ETH position, with an average entry of $3,741.34, is closer to break-even, though unrealized profits have dropped to $654,000 from a previous peak of $8.61 million.
With uncertainty lingering, whale movements continue to influence market sentiment. The "Smart Money" whale now holds the second-largest ETH long on Hyperliquid, serving as a key signal for Ethereum’s direction. On the other hand, the Solana whale’s exit underscores the vulnerability of high-leverage approaches in turbulent conditions. As institutional interest in crypto derivatives grows and retail traders face mixed signals, the actions of these major players are likely to impact short-term price trends.
As reported by
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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