A prominent investor has significantly increased their holdings of the cryptocurrency Solana (SOL). According to an on-chain analyst, the investor—previously known for opening short positions after the ‘1011 flash crash’—recently purchased 51,612.85 SOL tokens, raising their total ownership to 301,612.8 SOL. The current value of this investment is approximately $37.36 million, with an average purchase price of around $135.2 per SOL. At present, the investor faces an unrealized loss of about $3.42 million. Following this acquisition, the overall value of the investor’s portfolio has surpassed $700 million. Solana is a well-known blockchain platform token that holds a significant position in the crypto market due to its rapid development and growing adoption. The recent fluctuations in Solana’s price reflect broader market conditions, where investors adjust their positions accordingly. Sudden price changes are common in the cryptocurrency world, and the actions of major investors are closely watched as indicators of market trends. This investor’s increased stake in SOL suggests confidence in the token’s future value growth despite current losses. Given the ongoing market uncertainty, further price volatility in SOL is expected, urging investors to exercise caution.
Source: binance
