Solana whale GvHYQQ bought 47,535 SOL worth $3.6 million after more than two years of inactivity. The whale previously realized over $20 million in profit after selling 191,789 SOL at an aver
A Solana whale has returned with a $3.6 million purchase after more than two years of inactivity. Lookonchain said wallet GvHYQQ bought 47,535 SOL, after earlier 2023 purchases produced more than $20 million in realized profit. The latest purchase comes as SOL trades near $75.
According to Lookonchain, GvHYQQ bought 291,790 SOL during August and October 2023. The purchases cost about $6.82 million, giving the whale an average price of $23.37. SOL then climbed, allowing the whale to sell 191,789 SOL for $24.62 million.
Those sales came at an average price of $128.36, according to Lookonchain. The sales generated more than $20 million in realized profit. After more than two years without activity, GvHYQQ has now bought another 47,535 SOL.
Lookonchain valued the latest purchase at about $3.6 million. The transaction adds to the whale's previously reported SOL activity.
The purchase comes as spot market flows shifted between inflows and outflows from August 5 to August 18. The supplied data shows several sharp moves in both directions. Notably, positive inflows reached roughly $6.0 million to $6.3 million around August 8.
Source: Coinglass SOL rose from the $72-$73 area toward $77-$78 during the following sessions. However, several large outflows also appeared. Outflows approached $3.5 million around August 7, August 11, and August 17.
Another outflow near $2 million appeared around August 18. The data therefore records alternating periods of capital entering and leaving spot markets.
SOL started the period near $74 before falling toward $72-$73 on August 6 and 7. It then recovered toward $77-$78 around August 9 and 10. Afterward, SOL moved toward $75-$76, finding support around $74-$75 before recovering toward roughly $76.
Crypto Patel identified $60-$40 as a preferred accumulation zone and listed $300, $500, and $1,000 as targets. The analyst also asked whether SOL could fall below $60 again within four to five years.
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