Date: Sat, Sept 14, 2024, 10:48 AM GMT
The cryptocurrency market has seen a wave of bullish momentum this week, especially in altcoins, fueled by Bitcoin’s (BTC) impressive 10.45% jump over the last seven days. This surge has had a ripple effect on other major cryptocurrencies, including Solana (SOL), which has climbed by 7.72% during the same period and is now trading at $137.14.
Historically, the fourth quarter tends to be a strong period for the crypto market, and it seems that whales are gearing up for another potential rally. According to on-chain tracking service Lookonchain, a crypto whale made a significant move by purchasing an additional 10,000 SOL, worth approximately $1.37 million, and staking it just 11 hours ago.
In total, this whale has been busy accumulating SOL over the past month, staking a total of 50,000 SOL, valued at $6.85 million. From this massive stake, the whale has already generated 174 SOL in rewards, which is worth about $23,700.
Earlier today, Lookonchain reported that after Bitcoin’s price surged past $60,000, the another whale purchased another 1,062 BTC, worth a staggering $63.96 million. The whale’s BTC holdings now stand at 10,043 BTC, worth over $603 million.
These big buys and stakes suggest that crypto whales are positioning themselves for further gains, signaling growing confidence in the market as we move deeper into Q4.
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