Whales Bet $9M on Solana Ahead of Major Network Upgrade

Solana is showing some volatility today with the price dipping 2.37 percent to trade at $102. Even with this slight pullback, big players in the market are making significant moves. Whale addresses have opened $9 million in long positions, signaling strong confidence that the price could move upward soon.

All eyes are now on the network upgrade scheduled for September 9. Traders often position themselves ahead of these technical changes, hoping for smoother network performance or new features that could drive more interest to the project.

While the current market sentiment is cautious, these large long bets suggest that institutional players expect the upgrade to be a positive event for the ecosystem. Whether the price recovers will depend on how the network performs following the update and if that momentum can hold through the week.