On January 9, blockchain analytics platform Lookonchain detected a significant on-chain movement: a major investor transferred 8.09 million USDC to Hyperliquid and placed limit orders to acquire 59,458 SOL at prices between $133.88 and $135—amounting to nearly $8 million in total volume.
A Strategic Move by a Market Whale
This wasn't a quick trade. The use of limit orders instead of market buys suggests a deliberate, value-conscious strategy. In a consolidating market, such a large commitment signals strong confidence in Solana’s long-term potential beyond the current price cycle.
Renewed Focus on SOL’s Momentum
Solana has been regaining traction across DeFi, NFT trading, and dApp activity. This high-profile purchase could reignite investor interest, especially as the network demonstrates improved stability and scalability. A breakout above $135 could attract further buying pressure.
- Transferred: 8,090,000 USDC
- Target price range: $133.88 – $135
- SOL to acquire: 59,458
- Estimated value: ~$8 million
As Layer 1 competition heats up, capital is flowing back into high-performance blockchains with growing ecosystems. This whale’s move may mark one of the early catalysts for crypto markets in 2024.