Solana (SOL) has plummeted 40% over the past month. After falling from recent highs, it has struggled to hold the key support level of $76. Despite the weak price trend, on-chain data shows a divergence: large investors have not been selling off, but instead have engaged in multi-million dollar leveraged long trades, with one even depositing $2 million worth of USDC into HyperLiquid exchange, betting on a SOL rebound.
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
Solana (SOL) has plummeted 40% over the past month. After falling from recent highs, it has struggled to hold the key support level of $76. Despite the weak price trend, on-chain data shows a divergence: large investors have not been selling off, but instead have engaged in multi-million dollar leveraged long trades, with one even depositing $2 million worth of USDC into HyperLiquid exchange, betting on a SOL rebound.