Key Insights:
- Solana whales opened about $9.11 million in long positions before the September 9 Transaction v1 network upgrade.
- One Hyperliquid whale bought 285,503 SOL worth about $28.82 million over the past three weeks, Arkham data shows.
- Solana will raise its maximum transaction size from 1,232 bytes to 4,096 bytes under the Transaction v1 upgrade.
Solana price traded near $104 up 2% over 24 hours, while large traders continued to build exposure before a major network update. Whale activity on Hyperliquid shows fresh long positions worth more than $9 million, while another large holder has accumulated 285,503 SOL over three weeks.
Meanwhile, Solana will activate Transaction v1 on September 9 and raise the maximum transaction size from 1,232 bytes to 4,096 bytes. The Solana price outlook now centers on whether stronger whale demand can offset weaker derivatives activity and keep SOL above the $100 area.
Whales Add SOL Before the Network Change
CoinGlass data shows that five whale addresses opened about $9.11 million in SOL long positions between September 7 and September 8. The traders placed those positions on Hyperliquid while Solana price traded close to $100.
Separate on-chain data shows further accumulation from whale address HURDw. The wallet bought 285,503 SOL worth about $28.82 million over the past three weeks on Hyperliquid. That purchase adds another layer of large-holder demand before the network change.
The buying comes amid a short-term rally in SOL. The top altcoin has surged over 5% in the last 7 days and is now approaching the $105 resistance.
Transaction v1 Raises Solana’s Size Limit
Solana will increase its maximum transaction size to 4,096 bytes from 1,232 bytes through Transaction v1. The change gives developers more room to place complex instructions inside one transaction instead of splitting them across several operations.
The larger format can support bigger cryptographic proofs, multisignature payments and some confidential transfers. Existing transaction formats will continue to work, so wallets and applications do not need to adopt v1 unless they require the extra space.
Services that read Solana data will need to recognize the new format. Outdated software may fail when it encounters v1 transactions or may display priority-fee information incorrectly. The upgrade does not add a new fee per byte, although larger transactions can require higher priority fees when network demand rises.
Solana chose the 4,096-byte limit partly around validator hardware memory design. The update also follows earlier networking changes that reduced the need for the original 1,232-byte ceiling. The proposals behind the change, SIMD-0296 and SIMD-0385, define larger transactions and the Transaction v1 format for the Solana network.
Meanwhile, CoinGlass data shows Solana’s funding rate moving into negative territory, indicating stronger short positioning across perpetual futures. The long-to-short account ratio near 0.92 also shows more short accounts than long accounts.
Solana Price Outlook Watches $100 and $107
SOL crypto continues to trade inside a symmetrical triangle on the four-hour chart. The pattern places near-term attention on support around $100 and resistance near $107.
A break below the lower trendline could expose the $84 area based on the pattern’s approximate 16% height. However, SOL crypto move above $107 could open room toward $124.
Momentum indicators show SOL crypto bulls are taking a slight lead, with the 4-hour RSI above the neutral 50 level. The MACD shows slight positive momentum developing as the MACD line attempts to cross above the signal line. Meanwhile, the red histogram bars are fading toward zero, showing weakening bearish momentum.
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