Large Crypto Investors Are Buying This Altcoin at the Moment

Last week we saw big price swings in the cryptocurrency market, especially after news broke about Israel attacking Iran.

During this period, affluent investors have been quietly accumulating significant amounts of Solana (SOL), as tracked on-chain.

According to data from Lookonchain three investors have been on a buying spree and withdrawing their tokens to personal wallets and staking them for passive income. This strategy reflects a commitment to holding these assets over the medium to long term, in contrast to the previous trend of engaging in high-risk, short-term speculation, particularly with memecoins.

One of the standout addresses, pulled out 153,511 SOL from Binance in the last six days, valued at around $26.4 million. Most of this amount was staked using Marinade Finance, leading to the acquisition of MSOL tokens.

Another address increased its holdings by adding 13,000 SOL to a previous stash of 95,651 SOL, bringing the total to approximately $16.83 million.

The last address bought 35,498 SOL worth about $6.12 million from Binance and Kraken within a three-day window. This investor also chose to stake through the Jito Network, obtaining JITOSOL tokens.