Solana’s 55% Three-Month Surge Gains Muscle as Whales Resume Accumulation

Solana (SOL) is trading near $240 as of September 12, marking a 5% daily jump, a 16% gain over the week, and an 19% rise across the past month. Over the last three months, the token has rallied more than 56%, but recent advances often faced quick profit-taking.

Fresh on-chain data now points to renewed confidence from key market players. The relative address supply distribution—which tracks holdings by wallet size—shows that wallets holding more than 100,000 SOL have boosted their share from 57.81% on August 19 to 58.95% today. Historically, similar whale accumulation preceded sharp price climbs: in July, their holdings climbed to 59.83% as SOL surged from $146 to $205, nearly a 40% gain.

Exchange flow data adds to the bullish picture. On September 10, about 291,000 SOL moved onto exchanges, typically a sign of profit-taking. Yet by the next day, as SOL pushed past $227, exchange balances flipped sharply negative with 1.77 million SOL withdrawn—an unusually large outflow that reduces immediate selling pressure.

While the three-month average of these key indicators hasn’t yet reached past highs, the steady uptick signals growing momentum. For now, Solana’s structure remains bullish, backed by whales and so-called smart money. Still, traders await a clear breakout confirmation to cement the trend.