On-chain whales' $700 million position breakthrough, why are they still adding to SOL?

Question

【Chain News】A well-known on-chain whale has recently taken new actions. This major holder, who has made several accurate predictions during market fluctuations, first increased their ETH holdings, then shifted focus to SOL. In the latest round of operations, they added 51,612.85 SOL long positions.

According to on-chain data, this whale currently holds a total of 301,612.8 SOL, which is approximately $37.36 million at the current price. Interestingly, their average cost basis is $135.2, and they are currently at a floating loss of about $3.42 million. Despite short-term pressure, they have not cut losses but instead increased their positions.

What’s more noteworthy is that after this round of operations, the whale’s overall long position scale has officially surpassed $700 million. This kind of decisive accumulation during market adjustments often indicates a bullish outlook for the future.

SybilSlayer · Accepted Answer

Whales are bottom fishing here, what are we still hesitating for?

Not afraid of unrealized losses, this mental toughness is truly exceptional.

A long position worth 700 million USD... how can this guy be so confident about the future market?

Adding positions in a bear market, unless you're a bottom-fishing fanatic or crazy.

SOL really has a story behind it; just look at the whales' operations to understand.

Following the trend to buy the dip isn't a big deal, the key is that they dare to hold unrealized losses and add to their positions.

This mindset... ordinary people really can't learn it.

The bottom range is being built up, let's wait and see if it can take off.

HackerWhoCares · Answer

Still adding aggressively despite a floating loss of 3.42 million, I really have to admire this mindset.

MevTears · Answer

If the whales are doing it, and I'm still hesitating whether to get on board, it's really ridiculous.

BrokenRugs · Answer

Still daring to add positions despite unrealized losses, this mindset is incredible.

GweiObserver · Answer

Floating loss of 3.42 million still adding aggressively. This guy must be either very crazy or has seen something we can't see.

SellLowExpert · Answer

Still adding to my position with a floating loss of 3.42 million, this mindset is really incredible. I need to learn from it.

DefiOldTrickster · Answer

Still piling up with a floating loss of 3.42 million? This guy really doesn't believe in evil. I just like this kind of tough guy... Speaking of which, SOL dropping from 135 is indeed pretty tragic, but with a long position scale of 700 million sitting here, it shows that they had already calculated the return rate.

GasOptimizer · Answer

This whale really took off his pants and farted, with unrealized losses of 3.42 million still daring to add more. If he's not a gambler, what is he?

Wait, this logic seems... a bit something, huh? With a $700 million guts, we gotta follow.

Is SOL about to take off this wave? Feels like this guy is setting the rhythm.

It's the same routine again, every time a big holder adds to their position, someone follows suit, and in the end, retail investors are the ones holding the bag...

But on the other hand, the cost basis of 135 yuan for building the position, still holding on tightly now, is indeed ruthless.

It's all about betting on a rebound in the market, anyway, I don't even have $135,000, just watching for fun.

Adding 3.01 million tokens? I just want to ask this brother how his sleep quality is.

LiquidationWatcher · Answer

Floating loss of 3.42 million still adding positions, this move is really aggressive

Is this whale truly committed or just gambling? Over 700 million in long positions stacked up like this is quite intense

I can't understand it, but I'm truly shocked

It's the same logic of "adding positions means confidence." How did it turn out the last time I said that?

Large capital means being reckless; losing money doesn't even feel painful

StakeWhisperer · Answer

Still adding to my position with a floating loss of 3.42 million. I need to learn this mindset.