Whales in the Solana derivatives market significantly influence the price trajectory of the cryptocurrency, following long-term pressure ranging between $48 and $50 million on the hyperliquid exchange. Analysts indicate a possibility of the price rising to $300 in response.
■ Repositioning after long pressure
In the hyperliquid exchange, major traders added $8.5 million to new positions after a significant liquidation, indicating the potential for a rebound. Analysts expect an upward trend towards a valuation of $300 for Solana. As one market analyst noted.
■ The impact of whales on market dynamics
Participants include major traders or 'whales' active in the Solana derivatives market, focusing on hyperliquid. They quickly positioned themselves for growth after the derivatives pressure without direct intervention from Solana Foundation leadership. Rapid liquidations impacted market stability, providing a promising opportunity for remaining participants. Analysts believe increased whale activity after derivatives pressure could drive prices to future gains and maintain volatility.
■ Implications of whale activity
These movements often lead to significant price shifts due to excessive leverage liquidation. With the repositioning of whales, there is an opportunity for upward momentum, according to market analysts. With historical precedents of Solana recoveries following liquidations, whale movements in the market reflect past patterns and may indicate a continued rise in value. Traders and market watchers anticipate further developments as activity evolves.