Solana News Today: Solana Whale Invests $105M, Defying Bearish Trends as Institutional Players React
- Solana (SOL) surged to $186 as a whale added $105M in SOL, signaling institutional and on-chain optimism. - Reliance Global Group boosted its digital asset holdings with SOL, citing its low fees and high-throughput network. - Mixed signals emerged: bullish whale activity contrasted with Solana's failed retest of prior highs and stable TVL at $11.06B. - Technical analysts highlight $315 as a key breakout threshold, though macro risks like regulatory uncertainty persist.
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
Solana’s momentum was further supported by institutional participation.
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
Wider market trends added further complexity.
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.
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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