A Solana address with over 1 million tokens is sitting on more than $153 million in profit after a four-year staking play on the crypto asset.
Blockchain analytics firm Lookonchain flagged the wallet address of a whale that staked nearly 1 million Solana (SOL ($149.26)) tokens in 2021. At the time of the staking, Solana tokens were worth around $27, which means the trader spent about $27 million to execute the play.
Four years later, the whale’s total staked Solana holdings have reached 1.29 million. With Solana appreciating to about $140, the whale’s holdings have increased in value to about $180 million.
On April 22, the whale started offloading a portion of the token stash to cash out on the gains. Lookonchain reported that the whale had unstaked 100,000 SOL tokens (about $14 million) and sent them to Binance. Sending tokens to crypto exchanges often indicates an ...
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