Solana whale sits on $153M profit after 4-year staking play

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Coin Telegraph 11h ago

Solana whale sits on $153M profit after 4-year staking play - Coin Telegraph

Quick Summary:

Since the trader spent $27 million on the play, the total unrealized profit for the address is about $153 million. Source: LookonchainSolana whales turn $37 million to $200 million in four-year playThe Solana whale’s unstaking and token offloading follow another Solana staking play that involved hundreds of millions earlier in April. On April 4, Arkham Intelligence data showed that four wallets that staked $37 million in tokens in 2021 had their tokens unlocked, meaning they can unstake and sell them.

A Solana address with over 1 million tokens is sitting on over $153 million in profit after a four-year staking play on the crypto asset. Blockchain analytics firm Lookonchain flagged the wallet address of a whale that staked nearly 1 million Solana (SOL) tokens in 2021.

After the tokens were unlocked, about $50 million in tokens were sold. Related: Babylon total value locked drops 32% as wallets unstake $1.2B in BitcoinSolana briefly flips Ethereum in staking market capAs many whales turn to Solana for staking plays, the network briefly flipped Ethereum in the staking market cap.