Crypto Whale Sells $100M in Solana in 2024

A significant cryptocurrency wallet has liquidated nearly $100 million in Solana (SOL) this year, according to data from Lookonchain.

The tracker suggests that this wallet might be controlled by an institutional investor.

Since the start of 2024, the wallet has sold approximately 19,306 SOL each week, amounting to about $2.76 million per week. This adds up to a total of 695,000 SOL, worth around $99.5 million.

Despite these sales, the wallet still holds 1.88 million SOL, valued at $237.68 million, as per Solscan.io.

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In another update, Lookonchain reports that a different large wallet recently withdrew 1,100 Bitcoin (BTC), equivalent to $64.26 million, from Binance. BTC is currently priced at $56,729, down nearly 5% for the day.

Additionally, Lookonchain observed that an early investor in the decentralized finance protocol Aave (AAVE) recently sold 17,447 AAVE tokens, realizing a loss of $2.14 million. The investor had initially purchased these tokens between March 28, 2021, and June 12, 2023, at an average price of $246 each.

Alexander Stefanov