Solana Whale Capitalizes on Market Rally with $8.19M Bybit Deposit, Secures $2.93M Profit

A major solana (SOL) whale has made a strategic move amid the ongoing market rally, depositing 39,875 SOL (worth $8.19 million) to the Bybit exchange. This transaction follows a five-month holding period during which the whale initially acquired the SOL tokens for $5.26 million on the same platform. The recent 30% surge in Solana's price, fueled by growing DeFi adoption and cross-chain integration, enabled the whale to lock in a substantial profit of $2.93 million. This activity highlights the increasing liquidity opportunities for large holders as Solana's ecosystem continues to expand. The whale's timely exit underscores the potential for significant gains in the current bullish market environment, particularly for early investors in high-performance blockchain networks like Solana.

Solana Whale Takes $2.93M Profit Amid Market Rally, Deposits $8.19M in SOL to Bybit

A significant Solana whale has moved 39,875 SOL ($8.19M) to Bybit, capitalizing on a $2.93M profit after holding the tokens for five months. The whale originally acquired the SOL for $5.26M on the same exchange, benefiting from Solana's recent 30% price surge.

Market activity among large holders has intensified as Solana's rally—driven by DeFi adoption and cross-chain integration—creates liquidity opportunities. The daily Relative Strength Index (RSI) at 67 indicates strong bullish momentum without extreme overbought conditions, while an On-Balance Volume (OBV) of $607M reflects sustained demand.

Profit-taking by whales underscores confidence in Solana's fundamentals, even as technical metrics suggest room for further upside. The asset's resilience mirrors broader institutional interest in layer-1 blockchains with robust ecosystem growth.

Hong Kong Implements Strict Crypto Custody Rules Following $1.5 Billion Bybit Hack

Hong Kong's Securities and Futures Commission has enacted immediate custody regulations prohibiting smart contracts in cold wallets and requiring round-the-clock security monitoring. The move comes as global crypto losses surpass $3 billion in the first half of 2025, including a record $1.5 billion breach at Bybit attributed to North Korean hackers.

The new framework establishes comprehensive security standards for licensed VIRTUAL asset platforms, positioning Hong Kong as Asia's leading crypto hub while addressing escalating security threats. Dr. Eric Yip, the SFC's Executive Director of Intermediaries, cited "heightened risks globally" as the impetus for these measures.