When the calendars showed the end of 2022 and the beginning of 2023, there were comments that a network and its native token might be finished, and this project in question was none other than Solana and SOL. SOL, which fell to the level of $ 8 at that time, recovered after those days and entered a full 1-year period in which it would rise above $ 200. Later, SOL, which settled into the top 5 in the market again, continues to benefit from these price movements of careful investors. Recently, the trading activities of a SOL whale caught the radar of one of the leading companies in the market.
Solana Investor Behavior
Looking at on-chain data, a crypto whale has held tens of millions of dollars worth of assets since the first quarter of the year To the left According to data provided by blockchain tracking platform Lookonchain, the first SOL sale of the process by the whale took place on January 15. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
In the following period, the same whale again, according to on-chain data Coinbase, OKX And Binance It was seen that 614,000 SOL worth $89 million were sold on crypto exchanges.
When we look at Lookonchain data, it is also interesting that this whale generally sold once a week. When the on-chain data is examined in more detail, it is reflected in the graphs that approximately 100,000 SOL was sent from staking platforms to wallets again in the last 30 days before being sent to the three different exchanges mentioned.
This shows that the whale has been selling regularly since the peak performance of SOL at the beginning of the year, and it seems that investors will be watching whether it will buy again.
How Many Dollars is Solana?
Looking at the price of SOL, it was seen that it found buyers at $142.72 as of the writing time, which showed that it fell by 0.57% despite the market’s rise.
Digital asset manager CoinShares According to a new report shared by Solana, there have also been millions of dollars worth of outflows in institutional crypto investment products.
Solana saw an outflow of $39 million, the largest outflow on record, as the memecoins it relies heavily on faced a sharp decline in trading volumes.
Unlike the outflows experienced in Solana, there were inflows in Bitcoin (BTC) and Ethereum (ETH) investment products during the same period.
Bitcoin saw the most significant inflows with a total of $42 million, while short bitcoin ETFs (exchange-traded funds) saw a total outflow of $1 million for the second week in a row. Ethereum saw only $4.2 million in inflows last week, but that masked a flurry of activity with new providers seeing $104 million in inflows and Grayscale seeing $118 million in outflows.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
