Solana whale bought 20,000 SOL for $4.09 million and used it to borrow 3 million USDC. Sol rallied to a 7-month high of $211.
Solana hit $211 before easing to $209 as whales fueled Futures demand. Open Interest reached $12.9 billion, and profit-taking hinted at near-term risks.jumped to a 7-month high of $211 before easing back to $209 at press time.
This bullish outlook extended across the monthly and weekly charts, rising by 16.9% and 8.18%, respectively., a whale withdrew 20,000 SOL worth $4.09 million from Kraken and deposited it into Kamino to borrow $3 million USDC.After these transactions, the whale transferred the funds to OKX, suggesting DeFi leveraging. In fact, such a move signaled strategic positioning for the next market leg, with the whale eyeing direction bets.Futures Average Order Size data from CryptoQuant showed four consecutive days of Big Whale Orders. When this metric highlights whale activity, it implies that whales dominated trading volumes.Interestingly, when we examine the Derivatives market, these participants are mostly bullish. According to CoinGlass, Futures Open Interest jumped 5.14% to a new all-time high of $12.9 billion.Such a spike in OI reflects steady capital inflow and increased participation in Futures. Meanwhile, the altcoin’s Long/Short Ratio jumped to 1.02, where longs accounted for 50.6% of the total contracts.With longs dominating, it implied that whales rushing into Futures are mainly betting on Solana’s price to rise further.Unsurprisingly, as Solana’s price continued to rally, so did the appetite among holders and investors to cash out.Such a surge pointed to heavier exchange deposits than withdrawals, a sign of aggressive selling. Having said that, persistent inflows often create downward pressure—a warning of potential pullbacks.According to AMBCrypto’s analysis, Solana continued to rally as whale demand for Futures positions skyrocketed. As a result, the altcoin’s Directional Movement Index made a bullish crossover, hitting 29. At the same time, its Relative Vigor Index also made a bullish crossover, reaching 0.056.Typically, when these momentum indicators make a bullish crossover, it signals a strong uptrend and its likelihood to continue. Having said that, if buyers, especially whales, continue to accumulate for strategic positioning, Solana will find the next significant resistance at $223. Conversely, if momentum faded and whales withdrew capital while profit-taking stayed strong, a correction could follow. In that case, Solana might pull back toward $186.Gladys Makena is a Cryptocurrency Technical Analyst at AMBCrypto with three years of dedicated experience in analyzing digital asset markets. She specializes in price action analysis, employing a suite of technical indicators to identify trends, forecast market movements, and pinpoint key support and resistance levels. Her quantitative expertise is supported by a strong background in Statistics, which provides a solid foundation for her data-driven approach to market analysis. Gladys excels at interpreting complex chart patterns and momentum indicators, transforming raw price data into clear and actionable trading insights. At AMBCrypto, Gladys is committed to providing the community with timely and insightful technical analysis. Her work empowers traders and investors with the detailed knowledge required to understand market dynamics, manage risk, and navigate the volatile cryptocurrency landscape with greater confidence.Subscribe to get it daily in your inbox.
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