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Solana Latest Updates: Major Investor's $26M Solana Investment Signals Institutional Trust, Reliance Fuels Growth

Solana Latest Updates: Major Investor's $26M Solana Investment Signals Institutional Trust, Reliance Fuels Growth

Bitget-RWA2025/11/03 02:10
By:Bitget-RWA

A prominent crypto whale has significantly increased its stake in

(SOL), establishing a leveraged position exceeding $26 million as growing optimism in the market fuels a shift of capital into leading cryptocurrencies, as reported by . The investor, tracked by blockchain analyst Lookonchain under the address 0xc2a3, has achieved a flawless 100% win rate on several contract trades since October 14. Their portfolio now totals $448.8 million in (BTC) and (ETH) long positions, in addition to the newly opened trade.

This whale’s Bitcoin holding—1,683

acquired at an average price of $110,680—remains central to their approach, with unrealized gains now topping $13.4 million. Recent moves include increasing BTC longs through limit orders between $114,206 and $114,527, and initiating a 10x leveraged position in SOL. The Ethereum holding, totaling 40,305 at an average of $3,929, has grown to $196.3 million. Analysts such as Posty have identified $4,250 as a key resistance level for further upward movement.

Solana Latest Updates: Major Investor's $26M Solana Investment Signals Institutional Trust, Reliance Fuels Growth image 0

The whale’s increasing Solana position has attracted notable attention. On November 2, the 0xc2a3 wallet added 8,164.4 SOL to its long, bringing the total to 569,050.58 SOL—worth about $105 million, according to

. This action mirrors a wider trend of institutional interest, as Group (RELI) revealed a strategic purchase of SOL to broaden its digital asset portfolio, as detailed in . The firm, which already owns Bitcoin, Ethereum, and , pointed to Solana’s efficient network and minimal transaction costs as main reasons for the acquisition.

These developments are being watched closely by market participants. The whale’s BTC position could be at risk of liquidation if prices fall below $77,725, while the ETH long may be threatened if it dips under $2,777. Analysts such as Ali Martinez have highlighted $111,160 as a crucial support for Bitcoin, with resistance at $117,630, emphasizing the market’s volatility. For Solana, the whale’s assertive accumulation signals strong short-term conviction, though traders should keep an eye on the $198.22 level, which marks the whale’s average SOL entry price.

The ongoing interaction between institutional and whale capital is influencing the market’s direction this November. With the overall crypto market cap recently climbing above $3.78 trillion, continued strength in major coins could further boost positive sentiment. Still, as Posty advises, Ethereum investors should remain patient, with $4,075 retests serving as a gauge for market momentum.

0

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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