Solana (SOL), the fourth biggest crypto, took a halt from its all time high (ATH) rally but it seems like that the crypto whales are not holding back. Data from Lookonchain shows that a whale had scooped $60 million worth of SOL over the past month.
SOL price took a hit of around 8% in the last 7 days, dealing with a mild correction after a massive rally. The cumulative Solana ecosystem market cap surged past $342 billion as Pump.fun and newly SOL based meme coins gained prominence.
Whale scoops 250K Solana
As per the data shared by Lookonchain, 2 wallets have accumulated more than 250K Solana coins (approx worth $60 million) from Kraken in the last month. It is suggested that these 2 wallets might belong to the same person.
Whales are accumulating $SOL!
2 wallets(likely belonging to the same person) have withdrawn 250,109 $SOL($60M) from #Kraken in the past month.https://t.co/0pPszppckmhttps://t.co/uiWofyuKCc pic.twitter.com/6UpBf7f99X
— Lookonchain (@lookonchain) November 29, 2024
Solana’s price is up by a whopping 34% in the past 30 days despite the recent drop. SOL is trading at an average price of $241.31, at the press time. Its 24 hour trading volume is down by 32% to stand at $3.76 billion. The token went on to hit the ATH of $263.83 on November 23 asserting its position above BNB.
Pump.fun, on the other hand, is on a depositing spree, data shows that the linked wallet again dumped 65,000 SOL (approx worth $15.23 million) to the crypto exchange Kraken.
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Source: https://www.cryptopolitan.com/solana-whales-are-still-accumulating-sol/