A Solana whale purchased 47,535 SOL worth $3.6 million after a period of inactivity, according to cryptocurrency analysis firm LookOnChain. The same whale had previously bought 291,790 SOL for $6.82 million in 2023 at an average price of $23.37, shortly before a significant price rally. Solana’s price has fallen over 74% from its 2025 all-time high of $293.31. The whale’s timing has drawn attention, but the broader market faces headwinds including the Federal Reserve’s decision to hold interest rates, which may deter retail investors from risk assets.
LookOnChain reported that a Solana whale (GvHYQQ) purchased 47,535 SOL, valued at $3.6 million, after more than two years of inactivity. The whale had previously bought 291,790 SOL for $6.82 million in August and October 2023, at an average price of $23.37. “The whale perfectly bought the dip in August and October 2023, buying 291,790 $SOL ($6.82M) at an average price of just $23.37,” the firm stated. Solana’s price subsequently rallied after that purchase.
Solana reached its latest all-time high of $293.31 in January 2025. The asset’s price has fallen by more than 74% since that peak. Many experts anticipate the cryptocurrency market to enter the early stages of the next bull run. Bitcoin follows a four-year trajectory, with its last all-time high in October 2025. The next peak is expected around 2029, with the journey likely beginning in 2027. Solana is expected to follow a similar pattern.
However, the cryptocurrency market is struggling to gain momentum. The Federal Reserve has not yet announced an interest rate cut this year. Higher rates may lead retail investors to stay away from high-risk assets such as Solana. If the current trend continues, Solana’s price could dip further.
