790427 SOL (105406581 USD) transferred from unknown wallet to unknown wallet

In a significant transaction reported on-chain, over $105 million worth of Solana SOLUSD was moved in mere minutes, igniting interest in the crypto market.

In a significant transaction reported on-chain, over $105 million worth of Solana SOLUSD was moved in mere minutes, igniting interest in the crypto market.

According to Whale Alert, “790,427 SOL (105,406,581 USD) transferred from unknown wallet to unknown wallet.” The transfer took place across unknown wallets, sparking speculation about the origin, purpose and implications of the transaction, which remain unclear.

The transaction comes as Solana gains interest in the market. Solana has been rolling in the momentum, with its price increasing by 25% over the past week, signaling a strong rebound and renewed interest in the blockchain.

At press time, SOL was up 5% in the last 24 hours to $133.12 and up 25% in the last seven days.

Solana gains momentum

Recently, Solana has attracted market interest, evidenced by an increase in social media discussions.

Over the weekend, blockchain analytics firm Santiment noted an increase in conversations around Solana's price movements and market analysis. Solana's recent price increase has also contributed to its visibility and relevance in financial discussions.

According to Nansen, Solana topped the list of blockchain networks with the most transactions in the last seven days, hitting a staggering 355.9 million transactions.

In a recent tweet, Eric Balchunas, senior ETF analyst for Bloomberg, indicated that Canada might be preparing to launch spot Solana ETFs this week after a regulator gave the green light to multiple issuers, including Purpose, Evolve, CI and 3iQ.

Last week, Confidential Balances launched on Solana mainnet, a set of three ZK-powered, encrypted token extensions built for institutional compliance and financial privacy.