Solana News Today: Solana Whale Invests $105M, Defying Bearish Trends as Institutional Players React

On November 2, Solana (SOL) climbed to $186, fueled by heightened on-chain activity and increased institutional interest, which pointed to rising confidence in the altcoin’s short-term outlook. A notable whale investor expanded their long position by acquiring 8,164.4

, bringing their total holdings to 569,050.58 SOL—worth about $105 million at current market rates, as reported by . This move is part of a larger pattern of major liquidity players boosting their Solana exposure, with the asset now approaching the $315 resistance level—a significant marker for a potential breakout. The whale’s actions reflect strong belief in Solana’s technical strength, even as broader market conditions remain uncertain.

Solana’s momentum was further supported by institutional participation.

(Nasdaq: RELI) increased its digital asset reserves by purchasing SOL, in line with its strategy to diversify risk and improve liquidity management. The company’s holdings now span , , , and . Solana’s efficient network and minimal transaction costs made it a compelling choice, according to a . Analysts interpret this as a calculated effort to leverage blockchain’s expanding influence in corporate infrastructure.

Despite positive signals from the blockchain, Solana’s price movement showed some restraint. The token set a lower high, unable to surpass its previous peak, while its total value locked (TVL) held steady at $11.06 billion, as outlined in a

. This contrast underscores the ongoing battle between optimistic fundamentals and lingering bearish sentiment. Meanwhile, Digitap—a fintech startup rooted in crypto—captured attention by highlighting the appetite for tokens with real-world applications. Crypto.news also spotlighted Digitap’s Visa-compatible platform, which offers near-instant international payments with fees below 1%, aiming to resolve common issues in traditional money transfers.

Wider market trends added further complexity.

(ENA), a synthetic dollar asset, dropped almost 5% as DeFi TVL and open interest waned, signaling a shift toward caution, according to an . In contrast, Solana demonstrated relative resilience, with both whale accumulation and institutional inflows indicating a more risk-tolerant stance. Blockchain data suggested that the $198.22 entry price for large Solana holders—totaling $105 million—could act as a psychological support if volatility increases, as noted by Coinotag.

Technical experts identified the $315 level as a pivotal target for Solana, with a breakout potentially paving the way for a move toward the $1,000 psychological barrier. Still, Ethena’s recent challenges and the broader DeFi outflows serve as reminders that macroeconomic risks—including regulatory ambiguity and a delicate risk-on climate—persist.