Solana

<p>In the past two days, two major whales, have made significant moves in the cryptocurrency market involving <a href="https://blockchainreporter.net/price-prediction/solana-price-prediction/" rel="noopener noreferrer nofollow">Solana (SOL)</a>. According to Lookonchain, these whales withdrew a total of 238,893 SOL from the Binance exchange. The value of these tokens is approximately $41.4 million.</p><h2 id="header-0">Whales Stake $41.4M in SOL for Long-Term Gains</h2><p>After withdrawal, the SOL tokens were staked. This means that these investors are interested in the Solana network for the long term. This entails providing certain quantity of a certain digital currency for the performance of certain functions for a blockchain functionality in exchange for gains.</p><p>This action is normally perceived as an indication of the holder’s level of confidence in the future prospects of the particular digital currency that is staking.</p><h2 id="header-1">Whales Stake Large Solana Amount, Showing Strong Solana Faith</h2><p>The large sell and dump and stake of SOL indicates that these Whales are bullish on the future progression of Solana. This could also be seen as an attempt to obtain staking rewards together with an opportunity to increase the worth of SOL in the future.</p><p>As <a href="https://lookonchain.com/" rel="noopener noreferrer nofollow">Lookonchain</a> pointed out, such large transaction flows can cause significant effects on the market. Therefore, they can affect other people’s decisions in the same market. Since a huge amount of SOL has been used in this recent activity, there is continued engagement and faith in Solana. The cryptocurrency has been on the rise as one of the main blockchain solutions because of its efficiency and capacity.</p>

Solana Whales Withdraw $41.4M $SOL from Binance in Two Days

Table of Contents

BlockchainReporter

Egyéb ezen a dátumon (2024. júl. 24.) megosztott cikkek

Bitcoin Faces Price Pressure Due to Mt. Gox BTC Distribution

Ripple News : Top Reasons XRP Price Could Experience a Major Upswing

Ethereum Primed For Huge Parabolic Move After Spot ETH ETFs Launch, Says Analyst

Layer 2 Cryptos to Watch: Expected Surge Following Ethereum ETF Approval

ASIC market undergoes ‘significant repricing,’ analysts say

Ferrari Now Accepts Bitcoin in Europe! Is BTC Price Headed for $1 Million?

Join our free newsletter for daily crypto updates!