A whale reportedly bought 285,503 SOL, worth about $28.82 million, over the past three weeks on Hyperliquid. The purchase lands as Solana's real-world-asset ecosystem hits a record $4.35 billion and SOL price fights to hold the $100 level.
SOL price is holding above $100 while a wallet known as HURDw has accumulated 285,503 SOL worth approximately $28.82 million over the past three weeks. The buying stands out, but the chart still has levels to clear before the bullish case gets comfortable.
Whale and treasury activity build around SOL
HURDw reportedly bought the entire position on Hyperliquid, adding to growing attention around Solana. Alongside the purchase, reports suggest Fundstrat may be pivoting from Ethereum toward Solana, though the available information doesn't confirm a completed shift.
Another development involves the $11 million CHAD offering from DeFi Development Corp, described as the first SOL-backed digital credit instrument, with proceeds set to buy SOL. The chairman of Ethereum treasury firm BitMine participated in the offering. Still, whale purchases and treasury activity don't automatically guarantee a sustained rally.
Solana's RWA ecosystem hits a record
Solana's real-world asset ecosystem has surpassed $4.35 billion in total value, a new all-time high. The number of holders has also crossed 420,000, a record for the ecosystem. Those figures suggest tokenized-asset activity on Solana is expanding.
Combined with the reported whale accumulation, the data helps explain why some investors continue to view SOL as undervalued. But the price eventually has to do the talking.
SOL faces a crucial test at $100
On the daily chart, SOL price has been rising since the mid-August golden cross between the 200-day and 50-day EMA bands, yet it is now struggling to sustain the rally above $100 during September.
If buyers defend that level, the recovery could extend toward the middle band of a multi-month falling wedge near $130, and a stronger breakout could then bring $150 into focus. The bearish scenario is simpler: losing $100 could expose SOL to a correction toward $80, and a failure there could stretch the decline toward $50.
The $100 level remains the immediate test for whether SOL can build on the recent momentum.
Source: Coinpedia Fintech News
Trading involves risk.
Risk Disclaimer
