Whale Drops $8M in USDC to Accumulate SOL – Is a Market Shift Coming?

A Whale’s Bold Move: $8M USDC Targeting SOL

According to fresh on-chain data from Lookonchain, a major investor transferred 8.09 million USDC to Hyperliquid just four hours ago. What followed was a strategic move: the immediate placement of limit buy orders for Solana (SOL) — signaling strong conviction in the asset’s near-term potential.

The whale set a target price range between $133.88 and $135, aiming to accumulate 59,458 SOL, amounting to roughly $8 million. This calculated entry suggests confidence in SOL’s current valuation, particularly during a broader market consolidation phase.

Why Bet on SOL Now?

• Attractive Valuation: After recent pullbacks, SOL appears increasingly appealing to institutional-grade investors.
• Resurgent Ecosystem Activity: NFT trading volume and DeFi TVL on Solana have shown consistent growth.
• Renewed Institutional Interest: Sophisticated players are reassessing SOL’s role in a competitive multi-chain landscape.

This isn’t an isolated case. Over the past weeks, multiple large addresses have steadily increased their SOL holdings. Such accumulation patterns could precede a broader market rally, with growing momentum behind one of crypto’s most resilient layer-1 networks.