A smart-money trader scooped up 95,928 SOL worth $9.74 million after keeping assets untouched for two full years. On-chain analytics platform Lookonchain tracked the capital inflow, which coincided with a 40% rally in SOL’s price. The massive purchase also comes as the Solana network hit a new record, surpassing 4.2 billion transactions throughout July 2026.
The wallet address’s transaction history over the past three years on Solana provides strong justification for analysts’ smart-trader label. Over that timeframe, the wallet owner opened buy-and-sell positions only twice using SOL swing trades. Across both past cycles, the trader executed the exact same playbook: accumulating coins at cycle lows and selling everything at the top.
Returns from those two prior positions yielded solid results, with total profit margins from the SOL swing maneuvers reaching $4.95 million. This week’s fresh $9.74 million deployment officially ends the hiatus, marking the start of the wallet’s third trading cycle.
What Happened to 11 Million $FRIEND Tokens?
The Solana whale’s precise entry stands in sharp contrast to capital flows from Machi Big Brother, a prominent figure in crypto circles. While the SOL whale exercised patience, Machi racked up over $16 million in total losses on his open position in $FRIEND tokens. Historical records show Machi poured up to 5,200 ETH, or roughly $16.7 million, into scooping up 11 million tokens from Web3 social platform Friendtech.
That hefty spending has since experienced a drastic decline. Machi’s entire 11-million-token balance now carries a market valuation of just $500,000. Faced with a nearly worthless asset, he pivoted toward a buyout route rather than cutting losses on the open market.
$1 Million Offer as a Rescue Bid
Machi submitted a $1 million cash offer to acquire all operations of Friendtech. The takeover proposal comes with plans to relaunch the social app to reignite user engagement. On-chain data reflects his serious intent, showing he transferred all 11 million of his $FRIEND tokens to the lead developer’s wallet address five days ago.
The contrast between these two deep-pocketed wallets illustrates differing risk tolerances and elite-level playbooks. One player was willing to park capital for two full years without a single trade to capture Solana’s most rational moves. The other is willing to tap into extra cash to seize control of a company and rescue a sinking multi-million-dollar investment.
This chain of events offers a tactical takeaway for standard market participants. Blindly copying whale wallets poses perspective traps; whales have the staying power to endure multi-year chart cycles, or hold second wallets deep enough to outright buy an entire application when calculations go awry.
Source: @lookonchain on X.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
