The latest monthly candle closed near $103, according to TradingView data circulating widely on X. The move marks a notable shift after SOL spent much of the intervening period under heavy selling pressure. The token had fallen from highs above $250 in late 2025 to a cycle low around $60 before the recent recovery.
August delivered strong performance, with $SOL advancing roughly 40–50% during the month and reclaiming the psychologically important $100 level.
In the meantime, a dormant Solana whale has returned to the market after eight months of inactivity, purchasing 76,856 SOL worth approximately $8 million from Hyperliquid, according to blockchain analytics platform Lookonchain.
The wallet, identified as 6ESYXA, accumulated the large SOL position after remaining inactive for roughly eight months.
The purchase adds to recent whale activity surrounding SOL, with large transactions potentially signaling growing interest from deep-pocketed investors. However, the move alone does not indicate whether the whale intends to hold the tokens or deploy them in further trading activity.
Solana is trading at around $102.47, down 1.28% over the past 24 hours. The token has pulled back after recently reclaiming the $100 level.
Bullish momentum?
Recent market data shows SOL had also advanced 1.15% on Aug. 31 after a 3.54% decline the previous day, pointing to a volatile start to September.
Despite the daily decline, trading activity remains heavily concentrated in derivatives. Solana has recorded roughly $7.82 billion in futures volume over the past 24 hours, compared with about $738.76 million in spot volume.
Open interest stands at approximately $6.64 billion.
The combination of elevated futures activity and the latest price pullback suggests traders are positioning aggressively around SOL’s current levels, increasing the risk of sharper moves if positions are unwound.
SOL’s market capitalization currently sits near $59.82 billion.
At roughly $102, the asset is still significantly above its recent August lows, but the latest weakness shows that buyers have yet to establish a decisive move higher.
