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.

READ MORE:

Crypto Protocol Proposes Shutdown and Transition to New Project

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

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.