Solana (SOL) has registered its first positive monthly close since September 2025, ending a prolonged stretch of declining months and signaling a potential shift in market momentum. The latest monthly candle settled near $103, as observed on TradingView, after a lengthy downtrend that drove SOL from highs above $250 in late 2025 to a cycle low around $60.
August surge sees whale return
During August, SOL delivered a strong performance with a gain of approximately 40–50%, allowing the token to reclaim the key $100 level. Blockchain analytics platform Lookonchain reported that a long-dormant Solana whale, previously inactive for eight months, returned to the market. The whale wallet address, identified as 6ESYXA, executed a purchase totaling 76,856 SOL from Hyperliquid, with the transaction valued at about $8 million.
This accumulation adds to a wave of large-scale SOL transactions in recent weeks. Though the whale’s intentions remain unclear, their renewed activity is seen as a possible indicator of renewed institutional or deep-pocketed investor interest.
Lookonchain highlighted ongoing speculation regarding whether the whale will hold onto this position or pursue further trading strategies. The activity has generated considerable attention across the crypto community.
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AAPLShort-term volatility and derivatives focus
SOL is currently trading near $102.47 after falling 1.28% in the past 24 hours. The token recently passed the $100 mark but has since pulled back, underscoring the volatile conditions that have characterized early September trading. On August 31, SOL gained 1.15% following a sharper 3.54% drop the previous day, reflecting significant swings in price action.
Despite the dip, traders have continued to favor derivatives, with futures volume around $7.82 billion in the last 24 hours, compared with $738.76 million in spot volume. Open interest stands at roughly $6.64 billion, indicating high levels of speculative activity and heightened risk of sharper moves if leveraged positions unwind.
At the same time, SOL’s market capitalization hovers near $59.82 billion, buoyed by the strong rebound this August. However, the asset’s inability to sustain a decisive move higher despite surpassing its August lows suggests persistent uncertainty among market participants.
Shifting market structures and Web3 integration
As technical patterns and whale moves continue to influence short-term sentiment in Solana, a broader structural change is underway in capital markets. While traditional finance depends on elaborate broker networks, Wall Street’s transition to Web3 is accelerating. Investors can now use platforms such as 1stepSwap to hold shares of major US companies, gold, and silver within their crypto wallets. This process tokenizes real-world assets and automatically sources the best market prices in seconds, removing intermediaries from the transaction.
Such developments highlight the intersection of crypto-native trading approaches with the ongoing digitization of traditional assets, further linking market structure changes to sentiment around tokens like SOL.
