A Solana address with more than 1 million tokens sits over $ 153 million income after a four -year staking play in the crypto asset.
Blockchain analytics firm lookonchain That -flag The wallet address of a whale that stacked nearly 1 million solana (Sol) tokens in 2021. At the time of staking, Solana tokens cost about $ 27, which means the businessman spent nearly $ 27 million to perform the play.
Four years later, the total staked solana holdings of the whale reached 1.29 million. In Solana’s appreciation for nearly $ 140, whale handling rose in value to nearly $ 180 million.
On April 22, the whale began to file a portion of the token stash to cash out the gains. Lookonchain reported that the whale did not unit 100,000 SOL tokens (about $ 14 million) and sent them to Binance. Sending tokens to crypto exchanges often indicates a goal to sell.
Lookonchain said the whale still has 1.19 million Solana, worth $ 166 million. Since the businessman spent $ 27 million in playing, the total incoherent income for the address was about $ 153 million.
Solana Whales turns $ 37 million up to $ 200 million in four years playing
Solana Whale and Token Offloading follow Another Solana Staking Play That was involved in the road -a million earlier in April.
On April 4, Arkham Intelligence data showed four wallets that set $ 37 million in tokens in 2021 their tokens were locked, meaning they could unit and sell them. The Blockchain Intelligence platform called the event “the largest single-day unlock of staked sol.”
During unlocking, tokens cost more than $ 206 million. After the tokens were locked, about $ 50 million were sold.
Related: Babylon Total Value The Locked Drops 32% while Wallets Unke $ 1.2B in Bitcoin
Solana can easily flip Ethereum with Staking Market Cap
As many whales turn to Solana for staking plays, the network briefly flipped Ethereum to the staking market cap. On April 20, the blockchain reached Ethereum with the staked value of the token after reaching more than $ 53 billion. However, the event was short -lived as Ethereum recovered the top area.
While the event may seem bullish, community members are divided if Solana reaches Ethereum bullish or bearish for network.
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