Solana’s price has recently reached an impressive $180, marking a 65% increase since September.
This substantial growth underscores the network’s rising momentum, positioning Solana as a strong contender in narrowing the gap with Ethereum.
With whales actively purchasing and staking $SOL, it’s clear that major investors are taking advantage of Solana’s upward trajectory.
One notable whale, AA21…VxH9, made headlines by withdrawing 206,111 $SOL—worth $36 million—from Binance over the past nine days and promptly staking it. This commitment highlights the confidence large holders have in the network’s future potential and staking rewards.
https://twitter.com/lookonchain/status/1851827121313976563?t=8QplpbhGeqXAVppu9a0eUw&s=19
Another significant whale maneuver took place just five hours ago, as 92,751 $SOL, valued at approximately $16.34 million, was transferred to Binance, netting the investor a profit of $3.3 million. Here’s how the trade unfolded:
– Back in May, this whale withdrew 89,487 $SOL from Binance, valued at an average price of $146, totaling around $13.04 million. These holdings were initially pledged across multiple accounts.
– Roughly one month ago, the whale redeemed the staked $SOL and moved it to another wallet.
– Finally, five hours ago, the whale transferred the entire balance back to Binance.
In addition to the appreciation of Solana’s price, this investor also benefited from 3,264 SOL in staking rewards. The combined profit from both the staking income and the price increase resulted in a total gain of $3.3 million.
As Solana continues its bullish momentum, whale activity and staking strategies demonstrate the level of confidence high-value investors hold in the network’s future. This trend could signal sustained interest in Solana as it grows within the crypto landscape.
https://twitter.com/SolanaFloor/status/1851942409115984130?t=QTEsiZDoxNgpbf3E2dzdjA&s=19
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Image Source: alexandarilich/123RF // Image Effects by Colorcinch
