Crypto Potato 2025-04-23 03:49:37

Crypto Whale Nets $153M Profit After Unstaking 100K SOL

A mysterious Solana (SOL) whale has sparked market speculation after unstaking 100,000 SOL worth approximately $13.9 million and depositing it into Binance. The transaction, tracked by blockchain analytics platform Lookonchain, comes after four years of patient staking, with the deep-pocketed investor originally accumulating 991,079 SOL at an average price of $27. Whale Moves With Solana trading around $140, the realized and unrealized gains from the original allocation now exceed $153 million. Despite the sell-off, the whale still holds 1.19 million SOL that remains staked, with the stash valued at about $166.37 million, suggesting this could be more of a strategic rebalancing than a full exit. In typical crypto fashion, the responses on X have been a mix of insight, anxiety, and meme-driven skepticism. One user was quick to suggest the move could signal a SOL-to-ETH rotation in reference to Galaxy Digital’s recent flows, which saw it deposit $105 million worth of ETH to Binance while pulling nearly $100 million in SOL from the exchange. Last week, the firm transferred ETH valued at $80 million to Coinbase and Binance, with other large holders selling off another 143,000 ETH worth roughly $230 million. Interestingly, in a show of contrasting strategies among big investors, Lookonchain also reported a newly created wallet withdrawing 44,116 SOL from Binance, with an estimated value of $6.15 million, which was promptly staked. While some are cashing out, others are doubling down. Reversal and Bullish Signals On the chart, Solana is showing a delicate blend of strength and volatility. At the time of writing, the token was trading at $140.29, having gained a modest 0.8% in the last day. Despite inching higher, SOL has stayed within a tight 24-hour range of $134.72 and $140.35, indicating consolidation rather than breakout behavior. Additionally, it registered a 6% jump on the week, outpacing both the broader crypto market, which is up 5%, and its Coinbase Index peers, which are flat. Across 14 days, the asset has pumped nearly 29%, but its monthly gain is a more modest 5.9%, hinting at recent turbulence following a euphoric breakout earlier in the month. That rally, which saw SOL shoot up 38% in 10 days, was not without technical merit. Analysts noted that the cryptocurrency had formed a bullish falling wedge as well as a textbook cup-and-handle pattern on the daily chart. This convergence of bullish signals coincided with high investor engagement near the $129–$130 price level, now widely viewed as critical support. The post Crypto Whale Nets $153M Profit After Unstaking 100K SOL appeared first on CryptoPotato .

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