A major Solana ($SOL) investor has been making big moves. In just two days, the whale staked 134,482 SOL, worth $22.85 million. Lookonchain reports that the investor pulled $7.98 million worth of 47,154 SOL from Binance just few hours before. The staking process followed after the investment of the entire funds.
This whale withdrew another 47,154 $SOL($7.98M) from #Binance 10 hours ago and staked it.
In the past 3 days, this whale has withdrawn a total of 134,482 $SOL($22.85M) from #Binance and staked it.https://t.co/jPXp5mjB5n pic.twitter.com/QBZZb1S9pJ
— Lookonchain (@lookonchain) February 20, 2025
SOL Whale Withdrawals Strengthen Market Sentiment
This whale has withdrawn substantial amounts of SOL from Binance throughout the last three days. The investor followed each withdrawal by staking it instantly which did not leave SOL on trading platforms.
The stake movement indicates a prolonged optimistic outlook toward Solana. Staking tokens removes them from trading circulation because they become unavailable to trade. The reduction in circulating tokens might affect how much the token costs.
The rapid execution speed and minimal costs make Solana an attractive network for users. Numerous participants throughout the investment community consider Solana to be an aggressive rival to Ethereum network. Current whale activities confirm long-term market optimism about Solana’s growth prospects.
Whale SOL Strategy Signals Market Optimism
Market analysts are closely watching whale movements. Higher $SOL investments from significant investors might result in increased market demand and rising prices. The larger market conditions remain the fundamental influence on price dynamics.
The whale, reported by Lookonchain, continues to stake large amounts of money according to recent observations. Next developments will have investors intensely observing the situation.
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