Crypto Whale will bear 678K loss and shift 202K$SOL to Binance

Crypto whales have recently suffered a huge loss with unorganized solana ($sol) tokens. According to data from Lookonchain, the whales were sorted out and transtacted a massive $202,604 Sol from the Solana blockchain, traded them and traded them to mitigate losses. The on-chain analytics company revealed the development on social media.

 

Crypto Whale unstakes 202k $ sol from stakes from stakes

Market data reveals that crypto whales originally extracted up to $201,755 (nearly $24.3 million) from Binance nearly three weeks ago. In this respect, the whales directed them towards their staking accounts. That was when $Sol was trading for nearly $124. Following this, it is reported that the price of $sol fell sharply a few hours ago. This paved the way for massive losses up to $678,000 for the whales as they re-deposited the coins into Binance.

 

Transaction Track has also disclosed a step-by-step $SOL flow over the recent weeks. Almost three weeks ago, the whales moved about $24.95 million from Binanance to a Solana-based staking account. At the same time, more assets have shifted from hot wallets in binance. These transactions consisted of 157.909K$sol, 43.847k$sol, and 0.098$sol. However, after a significant loss, the whale returned 202.651K$SOL (approximately $24.27 million) to its wallet. Then, 24.602 $SOL (nearly $24.3 million) returned to Binance.

Solana continues to decline amid uncertain market conditions

According to LookonChain, the operation makes it clear that even whales are susceptible to crypto market volatility. The incident highlights an increase in attention among crypto investors amidst market fluctuations. Strategic extraction, staking of $SOL assets, and ultimate returns highlight the whales’ attempts to capitalize on their staking rewards. However, amid the continued short-term recession of $SOL, market spectators continue to monitor signs of recovery and further declines.