Two Whales Haunted a Listed Altcoin on Binance: They Are Buying and Staking It!

The target of cryptocurrency whales was the altcoin project, one of Ethereum's biggest competitors.

According to the data transmitted by the on-chain analysis platform Lookonchain, two different cryptocurrency whales came to the fore with their purchases in Solana (SOL).

The data revealed that the whales in question received 238,893 SOLs worth $41.4 million from the cryptocurrency exchange Binance in the past 2 days.

Not content with just buying, whales withdrew their SOL assets from the stock market and put them into staking through DeFi platforms. This strategy was considered as a long-term investment move aiming to further increase the value of SOL.

After the USA's spot Ethereum ETF, one of the first projects that attracted attention was Solana. Some analysts have predicted a bundled ETF for Bitcoin (BTC), Ethereum (ETH) and Solana.

According to CoinGecko data, Solana, which has increased by 0.2% in the last 24 hours, is traded at $ 177 at the time of writing.