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Solana News Update: Crypto Whale Faces $6.3M Loss on Bold Solana Move as Institutions Remain Confident

Solana News Update: Crypto Whale Faces $6.3M Loss on Bold Solana Move as Institutions Remain Confident

Bitget-RWA2025/11/02 02:02
By:Bitget-RWA

- A top crypto whale boosted Solana (SOL) longs despite $6.3M unrealized loss, defying market volatility. - Reliance Global Group added Solana to its digital portfolio, citing fast settlement and low fees for risk diversification. - Bitcoin whale activity, including $356M Kraken BTC accumulation, fueled bullish speculation amid consolidation phase. - Analysts warn crypto's volatility risks concentrated bets, as Solana lags Bitcoin amid macroeconomic and regulatory pressures.

A well-known crypto whale, recognized for an unblemished trading history, has notably boosted its long position in

(SOL), even as it currently sits on an unrealized loss of $6.3 million. This decision coincides with a growing wave of institutional interest in Solana. Recently, Group broadened its digital asset portfolio to include the high-speed blockchain token, as reported by . At the same time, other major players in the crypto space—especially those active in Bitcoin—have sparked renewed bullish sentiment, though experts warn that significant volatility persists in the market.

Last week, Reliance Global Group (Nasdaq: RELI) revealed it had incorporated Solana into its expanding collection of digital assets, which already features

, , , and . According to CardanoFeed, the company pointed to Solana’s rapid transaction speeds and minimal fees as key benefits for managing liquidity and spreading risk. This move supports Reliance Global’s broader ambition to utilize blockchain technology for strengthening financial systems, reflecting institutional trust in Solana’s network despite recent market instability.

Yet, the whale’s bold commitment to

stands in stark contrast to its current $6.3 million unrealized deficit, illustrating the unpredictable swings of the crypto market. On-chain data indicates that this whale, who has previously achieved a perfect record in trading, increased its SOL holdings last week. While the exact motivation behind the move is uncertain, some analysts suggest it may serve as a hedge against Bitcoin’s ongoing consolidation, which has seen the cryptocurrency dip below $114,000 after a prolonged rally, according to .

Bitcoin’s latest price action has once again attracted large-scale investors. One anonymous wallet acquired 3,195 BTC from Kraken, worth $356.6 million, while another whale made a $16.6 million leveraged trade on Bitcoin via Hyperliquid, a decentralized futures platform, as reported by Yahoo Finance. These developments have sparked enthusiasm among retail investors, with social media filled with optimistic forecasts. Influencers such as "Lucky" have fueled the excitement, stating "the hype is real," and analysts like KillaXBT have drawn comparisons to the 2021 bull run, suggesting that a breakout above $116,000 could trigger renewed momentum across the market—a perspective also highlighted by Yahoo Finance.

Nonetheless, the whale’s position in Solana serves as a reminder of the risks involved. Despite Solana’s technological strengths, its price performance has trailed behind Bitcoin and Ethereum in recent months, influenced by broader economic factors and regulatory ambiguity. The $6.3 million unrealized loss highlights the dangers of concentrated investments in a sector where conditions can change abruptly. While the whale’s impressive track record remains unbroken for now, this latest trade underscores the difficulties even experienced market participants encounter in the ever-changing world of cryptocurrency.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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