Date: Thu, August 22, 2024, 07:30 AM GMT
The cryptocurrency market is buzzing with renewed optimism as Bitcoin (BTC) regains momentum, climbing back to the $60,000 mark after dipping to $49,000 on August 5th. This swift recovery has ignited bullish sentiments across the board, especially among altcoins, which are showing strong upside potential.
Among these, Solana (SOL) is catching significant attention. Recent on-chain activity reveals that large-scale investors, often referred to as whales, are heavily accumulating and staking SOL tokens. According to LookOnChain monitoring, two notable whales have made substantial moves:
- A whale with the address 9tuA8L withdrew 30,000 SOL (worth approximately $4.25 million) from Binance and staked it just seven hours ago.
Transaction Details - Another whale, identified as 7CsCGy, withdrew 26,245 SOL (worth around $3.72 million) from Binance and staked it six hours ago.
Transaction Details
As of now, the price of Solana (SOL) is trading at $142.71 with a market capitalization of $66 billion. The fact that whales are accumulating and staking SOL suggests growing confidence in the token’s long-term potential. As the market braces for the anticipated bull run, it seems that top altcoins like Solana are becoming prime targets for large investors.
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