Crypto Whale Nets $153M Profit After Unstaking 100K SOL
A mysterious Solana (SOL) whale has sparked market speculation after unstaking 100,000 SOL worth approximately $13.9 million and depositing it into Binance.
The transaction, tracked by blockchain analytics platform Lookonchain, comes after four years of patient staking, with the deep-pocketed investor originally accumulating 991,079 SOL at an average price of $27.
Whale Moves
With Solana trading around $140, the realized and unrealized gains from the original allocation now exceed $153 million. Despite the sell-off, the whale still holds 1.19 million SOL that remains staked, with the stash valued at about $166.37 million, suggesting this could be more of a strategic rebalancing than a full exit.
In typical crypto fashion, the responses on X have been a mix of insight, anxiety, and meme-driven skepticism. One user was quick to suggest the move could signal a SOL-to-ETH rotation in reference to Galaxy Digital’s recent flows, which saw it deposit $105 million worth of ETH to Binance while pulling nearly $100 million in SOL from the exchange.
Last week, the firm transferred ETH valued at $80 million to Coinbase and Binance, with other large holders selling off another 143,000 ETH worth roughly $230 million.
Interestingly, in a show of contrasting strategies among big investors, Lookonchain also reported a newly created wallet withdrawing 44,116 SOL from Binance, with an estimated value of $6.15 million, which was promptly staked. While some are cashing out, others are doubling down.
Reversal and Bullish Signals
On the chart, Solana is showing a delicate blend of strength and volatility. At the time of writing, the token was trading at $140.29, having gained a modest 0.8% in the last day.
Despite inching higher, SOL has stayed within a tight 24-hour range of $134.72 and $140.35, indicating consolidation rather than breakout behavior. Additionally, it registered a 6% jump on the week, outpacing both the broader crypto market, which is up 5%, and its Coinbase Index peers, which are flat.
Across 14 days, the asset has pumped nearly 29%, but its monthly gain is a more modest 5.9%, hinting at recent turbulence following a euphoric breakout earlier in the month.
That rally, which saw SOL shoot up 38% in 10 days, was not without technical merit. Analysts noted that the cryptocurrency had formed a bullish falling wedge as well as a textbook cup-and-handle pattern on the daily chart.
This convergence of bullish signals coincided with high investor engagement near the $129–$130 price level, now widely viewed as critical support.
The post Crypto Whale Nets $153M Profit After Unstaking 100K SOL appeared first on CryptoPotato.
Read More
Ethereum Investors Capitulate? Prominent Crypto Giant Sells ETH to Buy SOL
Solana Rallies Past Bitcoin—Momentum Tilts In Favor of SOL
Crypto Whale Nets $153M Profit After Unstaking 100K SOL
A mysterious Solana (SOL) whale has sparked market speculation after unstaking 100,000 SOL worth approximately $13.9 million and depositing it into Binance.
The transaction, tracked by blockchain analytics platform Lookonchain, comes after four years of patient staking, with the deep-pocketed investor originally accumulating 991,079 SOL at an average price of $27.
Whale Moves
With Solana trading around $140, the realized and unrealized gains from the original allocation now exceed $153 million. Despite the sell-off, the whale still holds 1.19 million SOL that remains staked, with the stash valued at about $166.37 million, suggesting this could be more of a strategic rebalancing than a full exit.
In typical crypto fashion, the responses on X have been a mix of insight, anxiety, and meme-driven skepticism. One user was quick to suggest the move could signal a SOL-to-ETH rotation in reference to Galaxy Digital’s recent flows, which saw it deposit $105 million worth of ETH to Binance while pulling nearly $100 million in SOL from the exchange.
Last week, the firm transferred ETH valued at $80 million to Coinbase and Binance, with other large holders selling off another 143,000 ETH worth roughly $230 million.
Interestingly, in a show of contrasting strategies among big investors, Lookonchain also reported a newly created wallet withdrawing 44,116 SOL from Binance, with an estimated value of $6.15 million, which was promptly staked. While some are cashing out, others are doubling down.
Reversal and Bullish Signals
On the chart, Solana is showing a delicate blend of strength and volatility. At the time of writing, the token was trading at $140.29, having gained a modest 0.8% in the last day.
Despite inching higher, SOL has stayed within a tight 24-hour range of $134.72 and $140.35, indicating consolidation rather than breakout behavior. Additionally, it registered a 6% jump on the week, outpacing both the broader crypto market, which is up 5%, and its Coinbase Index peers, which are flat.
Across 14 days, the asset has pumped nearly 29%, but its monthly gain is a more modest 5.9%, hinting at recent turbulence following a euphoric breakout earlier in the month.
That rally, which saw SOL shoot up 38% in 10 days, was not without technical merit. Analysts noted that the cryptocurrency had formed a bullish falling wedge as well as a textbook cup-and-handle pattern on the daily chart.
This convergence of bullish signals coincided with high investor engagement near the $129–$130 price level, now widely viewed as critical support.
The post Crypto Whale Nets $153M Profit After Unstaking 100K SOL appeared first on CryptoPotato.
Read More
Ethereum Investors Capitulate? Prominent Crypto Giant Sells ETH to Buy SOL