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.

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