One of the recent notable developments in the cryptocurrency market is Solana (SOL) $SOL
The price has reached an all-time high of over $260. Large investors or “whales” played an important role in this impressive increase. In particular, the million-dollar withdrawals from major cryptocurrency exchanges such as Binance revealed the intense interest of whales in Solana.
Over the last two days, a whale has staked all of them, acquiring 100,000 SOL worth around $23.86 million. These transactions contribute to a decrease in supply and a rise in prices. The same whale reportedly holds a total of $55.58 million worth of Solana assets. These large stakes are interpreted by investors as a sign of long-term confidence.
Another major investor withdrew 42,443 SOL from the Binance exchange today. This amount corresponds to approximately $11.14 million. Increasing staking activities and large coin withdrawals show that investors have increased confidence in the Solana ecosystem. The shrinking supply in circulation stands out as an important factor supporting the price increase.
In addition to the demand created by whales, staking transactions also play an important role in the increase in Solana’s price. The removal of coins from exchanges indicates that investments are being made with a longer-term perspective. This situation both continues the price increase and attracts the attention of new investors.
Experts say that this movement in Solana is a positive signal for the market. The ongoing purchases and staking transactions of whales may continue to support Solana's price in the short and medium term. These developments in the cryptocurrency market are being closely monitored by investors.
