Crypto Whales Make Big Moves on Solana, Following Recent Breakout

Following a notable price surge past $138, there has been a surge in Solana (SOL) acquisitions by major investors.

On September 14, 2024, Lookonchain, an on-chain analytics firm, reported that a major investor bought 10,000 SOL, valued at $1.37 million, from Binance and subsequently staked it.

A whale bought another 10,000 $SOL($1.37M) and staked 11 hours ago!

In the past month, this whale has bought and staked a total of 50,000 $SOL($6.85M), generating 174 $SOL($23.7K) in rewards.https://t.co/1YCSgze4nv pic.twitter.com/X2p4hatV5e

— Lookonchain (@lookonchain) September 14, 2024

In addition, this investor acquired and staked an additional 50,000 SOL, worth approximately $6.85 million, and earned over 174 SOL, equivalent to $23,700 in rewards.

Despite these substantial investments, SOL may test its recent breakout level to validate its upward movement. As of now, SOL is trading around $137, having risen by more than 7.8% over the past week.

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SOL’s 24-hour trading volume has increased to $1.04 billion, reflecting heightened interest from traders and investors following the breakout.

Kosta Gushterov

Kosta has been working in the crypto industry for over 4 years. He strives to present different perspectives on a given topic and enjoys the sector for its transparency and dynamism. In his work, he focuses on balanced coverage of events and developments in the crypto space, providing information to his readers from a neutral perspective.