Solana News Today: Solana's Price Swings Revealed: Major Investor Faces $2M Loss as Institutions Wager on Expansion

A large investor recently sold more than 32,000

(SOL) tokens—valued at about $4.18 million at the time—highlighting the crypto market’s volatility as the seller realized a $2.04 million loss. Blockchain analytics platform Lookonchain reported that the whale, using the address GJwCUj, sold the tokens on November 24, reversing previous profits. The tokens, purchased and staked ten months earlier, had lost value, leading to the sale .

This whale’s journey with Solana has seen both gains and setbacks. Two years back, the investor bought 400,000

at an average cost of $89 each, totaling $35.7 million. Within two months, a portion was sold at $108 per token, netting an $8.15 million profit. The recent sale of 32,195 SOL at a lower price, however, illustrates the difficulty of timing the market. , profits could have surpassed $82 million, emphasizing the risks of exiting early in such a volatile sector.

This transaction comes amid broader market shifts that have pushed Solana into a crucial support range. Technical experts point out that SOL’s price has fallen below a year-long upward trendline, settling near $141.79 as of November 20. This has increased bearish sentiment, with spot trading flows staying negative and derivatives data indicating that leveraged traders are pulling back.

to $7.51 billion, while daily trading activity shows buyers trying to keep the price above the volume-weighted average price (VWAP) of $141.60.

Despite recent price drops, institutional interest in Solana remains strong. Onfolio Holdings, a micro-cap firm specializing in online businesses and crypto investments, revealed on November 18 that it secured a $300 million convertible note facility to develop a digital asset treasury. The company intends to allocate 75% of upcoming tranches to

, , and Solana, aiming to earn staking rewards. This strategy, , reflects ongoing confidence in Solana’s future, even as prices fluctuate.

Interest from retail investors in Solana-related products is also increasing. In South Korea, Shinhan Asset Management reported that net purchases of two Solana-based covered call ETFs—the “SOL Palantir Covered Call OTM Bond Hybrid” and “SOL Palantir US Treasury Covered Call Hybrid”—have surpassed 130 billion won since their introduction. These funds, which offer monthly payouts of up to 2.06%, have drawn pension investors seeking steady returns in a low-yield market. This trend points to growing demand for crypto-linked financial products, even as individual tokens experience price volatility

.

Wormhole Labs, a major force in cross-chain technology, has further strengthened Solana’s ecosystem by launching its “Sunrise” liquidity gateway on November 21. This platform, built to simplify the integration of external assets like Monad’s MON token into Solana, seeks to solve liquidity fragmentation. By allowing immediate trading on decentralized exchanges such as , Sunrise aims to make Solana a center for a wide range of digital assets, .

The whale’s recent loss and the broader market context highlight Solana’s dual reality: it is a blockchain with strong appeal to both institutions and individual investors, yet remains susceptible to sharp price changes. As the crypto sector faces regulatory challenges and economic uncertainty, Solana’s continued success will rely on both technological progress and the expansion of its ecosystem.