Solana

Date: Thu, August 22, 2024, 07:30 AM GMTThe cryptocurrency market is buzzing with renewed optimism as Bitcoin (BTC) regains momentum, climbing back to the $60,000 mark after dipping to $49,000 on August 5th. This swift recovery has ignited bullish sentiments across the board, especially among <a href="https://coinsprobe.com/web-stories/top-10-cryptocurrencies-which-holds-high-potential-for-bull-run-3/" rel="noopener noreferrer nofollow">altcoins</a>, which are showing strong upside potential.Among these, Solana (SOL) is catching significant attention. Recent on-chain activity reveals that large-scale investors, often referred to as whales, are heavily accumulating and staking SOL tokens. According to LookOnChain <a href="https://x.com/lookonchain/status/1826459954989203920" rel="noopener noreferrer nofollow">monitoring</a>, two notable whales have made substantial moves:<img src="https://academy-public.coinmarketcap.com/optimized-uploads/c45c067a3e3842b880da3022067e2a1d.png" />Source: Lookonchain (X)A whale with the address 9tuA8L withdrew 30,000 SOL (worth approximately $4.25 million) from Binance and staked it just seven hours ago.<a href="https://solscan.io/account/9tuA8LkyiPyn5JucYFP5U3hJLHzYM83nPMKhWYjamn6Y#transfers" rel="noopener noreferrer nofollow">Transaction Details</a>Another whale, identified as 7CsCGy, withdrew 26,245 SOL (worth around $3.72 million) from Binance and staked it six hours ago.<a href="https://solscan.io/account/7CsCGyT83Bc1yNTtfjw7ijKtBk7L6pNBbeEHWj7BVJK6#transfers" rel="noopener noreferrer nofollow">Transaction Details</a>As of now, the price of Solana (SOL) is trading at $142.71 with a market capitalization of $66 billion. The fact that whales are accumulating and staking SOL suggests growing confidence in the token&#39;s long-term potential. As the market braces for the anticipated bull run, it seems that top altcoins like Solana are becoming prime targets for large investors.

Solana (SOL) On-Chain Activity Soars as Whales Accumulate and Stake

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