Solana Price Hits New ATH as Whales Accumulate: Can SOL Overtake Tether?

Solana's (SOL) price has hit a new high surpassing the previous at $260, while closing the market cap gap with Tether (USDT).

Solana’s (SOL) price has hit a new all-time high (ATH) of $260.028, narrowly surpassing its previous high of $260.06, set during the last bull market.

This latest ATH comes as several large transactions, indicating whale activity, have been observed moving Solana tokens.

According to blockchain analytics platform Lookonchain, a fresh wallet withdrew 42,443 SOL ($11.14 million) from Binance over the past two days.

Meanwhile, another whale bought 100,000 SOL ($23.86 million) and staked it. The whale now holds 231,919 SOL, valued at $55.58 million.

Collectively, these high-value transactions highlight major investors’ confidence in Solana’s long-term prospects, as they continue to accumulate the asset amid its price rally.

Over the past 1,480 days, since its early days, SOL has grown by 24,220% (242x), an investment of $1,000 during its early days would now be worth $242,200.

At the time of writing, Solana is ranked fourth by market capitalization, with only $5 billion separating SOL from reaching the third spot, currently held by Tether (USDT).

If SOL manages to reach $276, it will overtake USDT to become the third-largest cryptocurrency by market capitalization.

This development comes as Solana eyes Tether’s market cap position, with only $5 billion left to claim the third spot.

According to Crypto Patel, if $SOL reaches $276, it will pass $USDT to become the 3rd largest cryptocurrency.