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.
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.
BNB Chain has announced a major update designed to enhance its stablecoin infrastructure by introducing gasless transactions.
Fintech giant Revolut is planning to launch its own stablecoin. Sources indicate that Revolut, which recently secured a U.K. banking license and was valued at $45 billion earlier this year, is progressing well with this initiative.
Whale activity around the Artificial Superintelligence Alliance (FET) has increased dramatically, with large transactions up 262%, as reported in IntoTheBlock data.
WalletConnect is preparing to unveil its new Connect Token (WCT) on the Optimism OP Mainnet, an Ethereum Layer 2 network.