A Solana whale has accumulated over 1 million tokens, resulting in a profit of $153 million after a four-year staking play on the crypto asset. Lookonchain, a blockchain analytics firm, identified the wallet address of this whale, who staked nearly 1 million Solana (SOL) tokens in 2021 when each token was valued at around $27. Subsequently, with Solana’s value appreciating to about $140, the whale’s holdings surged to approximately $180 million. The whale began offloading a portion of the token stash on April 22, unstaking 100,000 SOL tokens (equivalent to about $14 million) and transferring them to Binance, indicating a possible intent to sell. Despite the substantial profits already realized, the whale still retains 1.19 million Solana worth approximately $166 million, resulting in an unrealized profit of about $153 million from the initial $27 million investment. In another instance, four wallets that staked $37 million in Solana tokens in 2021 had their tokens unlocked, leading to over $206 million in token value, with approximately $50 million worth of tokens being sold post unlock. Solana briefly surpassed Ethereum in staking market cap on April 20, reaching a value exceeding $53 billion, although Ethereum quickly regained its top position. The community remains divided on the implications of Solana overtaking Ethereum in the staking market cap.<\/p>\n","protected":false},"excerpt":{"rendered":"
A Solana whale has accumulated over 1 million tokens, resulting in a profit of $153 million after a four-year staking play on the crypto asset. Lookonchain, a blockchain analytics firm, identified the wallet address of this whale, who staked nearly 1 million Solana (SOL) tokens in 2021 when each token was valued at around $27. […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[25],"tags":[],"aioseo_notices":[],"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":""},"author_info":{"display_name":"","author_link":"https:\/\/vanillanews.com\/index.php\/author\/"},"category_info":"JUST IN<\/a>","tag_info":"JUST IN","comment_count":"0","_links":{"self":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/104255"}],"collection":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/comments?post=104255"}],"version-history":[{"count":0,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/posts\/104255\/revisions"}],"wp:attachment":[{"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/media?parent=104255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/categories?post=104255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vanillanews.com\/index.php\/wp-json\/wp\/v2\/tags?post=104255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}