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A Solana whale who had regularly sold tokens since January deposited almost $2.8 million into several exchanges, bringing the investor’s total tokens sold this year to $84 million.On Aug. 13, blockchain data analysis company Lookonchain <a href="https://x.com/lookonchain/status/1823239539554684981" rel="noopener noreferrer nofollow">spotted</a> a Solana (<a href="https://cointelegraph.com/solana-price-index" rel="noopener noreferrer nofollow">SOL</a>) wallet dumping tokens weekly since Jan. 15. According to the data firm, the whale has transferred at least 594,000 SOL to Coinbase, Binance and OKX this year.&nbsp;<figure><img alt="Solana whale continues $84M dump with $2.8M sale" src="https://s3.cointelegraph.com/uploads/2024-08/Solscan"><figcaption>Whale sends millions in SOL to a Coinbase wallet. Source: Solscan</figcaption></figure>The tokens are worth about $84 million in total, as SOL’s price hovers at $144.30. The whale sold tokens at least once per week, with the latest sale being a 20,000-SOL (about $2.8 million) token transaction.&nbsp;<h2 id="ether-whale-on-154-million-dumping-spree">Ether whale on $154-million dumping spree</h2>Apart from the Solana holder, another whale linked to the Ethereum initial coin offering (ICO) has been <a href="https://cointelegraph.com/news/ethereum-whale-deposits-13-2m-eth-okx-speculation" rel="noopener noreferrer nofollow">offloading tokens for over a month</a>. On Aug. 12, Lookonchain pointed out that the Ether (<a href="https://cointelegraph.com/ethereum-price" rel="noopener noreferrer nofollow">ETH</a>) whale deposited $13.2 million in ETH into OKX.&nbsp;The whale has been selling tokens since July 8. Its total number of tokens deposited to OKX is $154 million, and the funds were deposited at an average price of $3,176. The wallet received 1 million ETH during the Ethereum ICO.Despite the recent sale, another whale has taken the opposite position with a similar amount. On the same day, an Ethereum wallet scooped up 5,000 ETH, adding about $12.8 million to their portfolio.Related: <a href="https://cointelegraph.com/news/ether-whale-buys-13m-eth-needs-reclaim-2-7k" rel="noopener noreferrer nofollow">Whale buys nearly $13M of Ether, but price needs to reclaim $2.7K for next leg up</a><h2 id="dollar-cost-averaging-strategy-in-crypto-investing">Dollar-cost averaging strategy in crypto investing</h2>Instead of selling their tokens in a lump sum transaction, the whales employed what the investing world calls the <a href="https://cointelegraph.com/news/what-is-dollar-cost-averaging-dca-and-how-does-it-work" rel="noopener noreferrer nofollow">dollar-cost averaging (DCA)</a> strategy. The DCA strategy is a popular method for crypto investing, which features periodically buying or selling crypto assets instead of doing a bulk transaction at one time.&nbsp;Given the difficulties in estimating the top or bottom of prices, experienced traders <a href="https://cointelegraph.com/news/altcoin-roundup-smart-investors-don-t-just-buy-dips-they-dollar-cost-average" rel="noopener noreferrer nofollow">use the DCA method</a> to invest in crypto. The investment strategy makes a holder less affected by emotions as DCA investors think about long-term prospects.&nbsp;While the method is constantly advertised for buying crypto, it is also used when selling tokens to take profits.Magazine: <a href="https://cointelegraph.com/magazine/coldie-snoop-dogg-piece-vitalik-buterin-john-mcafee/" rel="noopener noreferrer nofollow">NFT Creator: ‘Holy shit, I’ve seen that!’ — Coldie’s Snoop Dogg, Vitalik and McAfee NFTs</a>

Solana whale continues $84M dump with $2.8M sale

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