In the world of cryptocurrency, both centralized exchange (CEX) platform tokens and tokens associated with the Solana project have experienced notable gains in recent trading sessions.
Binance Coin (BNB) surged past the $630 mark, registering a remarkable 24-hour increase of 15.64%, while OKB recorded a 24-hour gain of 9.5%. Solana (SOL) also saw a notable uptick, rising by 11.66% in the span of just 24 hours.
CEX platform tokens and Solana project tokens saw general gains. BNB once exceeded $630, with a 24-hour increase of 15.64%, and OKB had a 24-hour increase of 9.5%. SOL rose 11.66% in 24 hours, JUP rose more than 15% in 24 hours, and WIF rose more than 20% in 24 hours.…
— Wu Blockchain (@WuBlockchain) March 14, 2024
Additionally, other tokens such as JUP and WIF posted impressive gains of over 15% and 20%, respectively, within the same timeframe.
The surge in Solana’s price has propelled it to a new high, reaching $173.81, marking a significant milestone as its market capitalization surpassed $75 billion. This surge in Solana’s value has attracted significant attention from investors and traders alike, highlighting the growing popularity and strength of the Solana ecosystem.
Other Notable Whale Movements To Monitor
Amidst the surge in Solana’s price, a smart whale made a strategic move by depositing a substantial amount of SOL tokens into Binance just a few hours ago.
This whale withdrew a sizable portion of SOL tokens, totaling 879,441 SOL, from Binance at an average price of $77. Subsequently, they deposited 711,238 SOL tokens back into Binance at a significantly higher price of $150.
A smart whale deposited 534,039 $SOL($87.6M) into #Binance 7 hours ago.
This whale withdrew 879,441 $SOL($67.92M) from #Binance at an average price of $77 and deposited 711,238 $SOL($106.7M) to #Binance at $150.
A profit of ~$38.7M has been achieved!https://t.co/atq3fgLhwX pic.twitter.com/RED6RpZw5l
— Lookonchain (@lookonchain) March 14, 2024
This calculated maneuver resulted in a substantial profit of approximately $38.7 million for the whale.
As the cryptocurrency market continues to evolve and witness significant price movements, investors remain vigilant, closely monitoring the performance of various tokens and projects.
With Solana’s impressive surge and strategic maneuvers by savvy traders, the crypto market continues to demonstrate its dynamic nature, offering both opportunities and challenges for participants.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: ivanbabydov/123RF// Image Effects by Colorcinch
