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:
Source: Lookonchain (X)
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 DetailsAnother 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.
