Solana ($SOL) is capturing major attention from crypto whales, with several high-value withdrawals and record-breaking metrics signaling strong interest in the asset.
Notably, a whale using the address “AA21…VxH9” recently withdrew 153,511 $SOL, worth $26.4 million, from Binance over the past six days and staked it, indicating a long-term strategy.
Similarly, “EHax…gAUa” pulled 35,498 $SOL (valued at $6.12 million) from Binance and Kraken within the last three days, also opting to stake.
Another large holder, “EGzi…mR7g,” withdrew 13,000.8 $SOL ($2.3 million) from Binance just one hour ago and currently holds 95,651 $SOL, totaling $16.83 million.
Whales are accumulating $SOL!
AA21…VxH9 withdrew 153,511 $SOL($26.4M) from #Binance in the past 6 days and staked it.
EHax…gAUa withdrew 35,498 $SOL($6.12M) from #Binance and #Kraken in the past 3 days and staked it.
EGzi…mR7g withdrew 13,000.8 $SOL($2.3M) from #Binance… pic.twitter.com/pfd24qTuSy
— Lookonchain (@lookonchain) October 27, 2024
Beyond whale activity, Solana has enjoyed its fourth consecutive week of strong investment inflows, with $10.8 million entering Solana-focused digital asset products.
This trend highlights the asset’s growing appeal as other cryptocurrencies, like Ethereum and Cardano, registered outflows over the same period. Meanwhile, Bitcoin led the market with a notable $920 million in inflows.
🚨NEW: Solana saw $10.8M in net inflows from digital asset investment products, marking its fourth consecutive week of inflows.
Bitcoin led with $920M in inflows, while Ethereum and Cardano were the only assets to record outflows.
Source: @CoinSharesCo pic.twitter.com/GYFqy5nqhZ
— SolanaFloor (@SolanaFloor) October 28, 2024
Solana’s Growth Continues
Solana’s decentralized exchange (DEX) ecosystem is also on a remarkable upward trajectory. The chain recently achieved a record-breaking 35% dominance in weekly DEX volume across all blockchains, solidifying its lead in decentralized trading. Its weekly volume reached an impressive $15.78 billion, outpacing Ethereum’s $8.87 billion by a substantial 77.91%, marking the highest-ever weekly lead over Ethereum.
🚨BREAKING BIG: Solana’s weekly DEX volume dominance over all chains hits an all-time high of 35%.
Solana’s $15.78B volume surpasses Ethereum's $8.87B by 77.91%, marking its highest weekly lead over ETH to date. pic.twitter.com/4Zy2ckpIIu
— SolanaFloor (@SolanaFloor) October 28, 2024
This influx of whale investments, paired with Solana’s impressive DEX performance, suggests mounting confidence in the asset as a potential competitor in the cryptocurrency space. The surge in staked holdings and increased investment interest reflect growing optimism among large investors about Solana’s long-term growth.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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