According to on-chain analytics data, an address that has been regularly accumulating Solana (SOL) through over-the-counter (OTC) transactions since late April has significantly increased its purchases in recent days.
According to the analysis, the address in question purchased 249,500 SOL, which is approximately $46.78 million, through the FalconX and Wintermute platforms in the last 4 days alone.
This address reportedly purchased a total of 827,000 SOL, approximately $146 million, since the end of April, staking all of these assets. The average purchase price was calculated at $177.
Solana Market Performance
At the time of writing, Solana is trading at $194. SOL had fallen from $260 to as low as $8 during the massive FTX crash at the end of 2022 due to the large holdings of SOL coins by Alameda Research, a company owned by the defunct exchange. This year, SOL broke records, reaching an all-time high of $294 in January.