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Solana Whale Unstakes 100K $SOL After 4 Years, Sits on $153 Million Profit

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  • A Solana whale who staked 991,079 SOL in 2021 has now made a profit of over $153 million, with a current holding of 1.29 million SOL worth over $180 million.
  • The whale recently withdrew 100,000 SOL (worth about $13.9 million) to Binance, possibly for selling, but still holds 1.19 million SOL.

A Solana whale has made over $153 million in profit after staking tokens for four years. Recently, they withdrew about $13.9 million worth of SOL but still have more than a million coins in their wallet.

The whale drew attention to himself after taking out about 100,000 SOL, worth nearly $13.9 million, from his staking account and sending it to Binance.

According to Lookonchain, the whale staked 991,079 SOL in 2021 when the price was trading at about $27. At that time, the total cost of buying 991,079 SOL was almost 27 million.

After four years, the whale grew his holdings to 1.29 million tokens, which are now valued at more than $180 million, with Solana trading at about $140. On the 22nd of April, the investor took out a little profit by moving a portion of the money to Binance exchange, a step that many believe could be linked to selling.

Despite this move, about 1.19 million SOL still remains untouched. In total, the whale is sitting on a profit of more than $153 million, suggesting that the withdrawal is a more calculated move rather than a full withdrawal.

Solana Gains Amid Recent Volatility

Recently, Solana has shown a mix of strength and price swings. Currently, Solana is trading at $151.49 and has been up by 8.2% in the last 24 hours. Even with this small rise, the token has stayed between $134.72 and $150.35, suggesting it’s moving sideways instead of breaking out.

Over the last seven days, the price jumped by 21.6%, doing better than the overall crypto market, which rose 5%. In two weeks, it climbed more than 42%, but its monthly increase is just 8.3%, showing some ups and downs after having a strong move earlier in the month.

Related Reading | Solana beats resistance: key levels to watch after 17% weekly gain

From $27 to $166M: Solana (SOL) Staker Unloads $13.9M, Keeps Massive Stake

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  • An early Solana investor who turned $27 into a fortune has over $166 million worth of SOL after the withdrawal of $13.9 million.
  • According to on-chain data, the long-term staking yielded a massive $153 million gain.
  • This move has been a major topic in the crypto community, with two features being highlighted: the openness of blockchain technology and the risks of holding large amounts of cryptocurrency.

A Solana (SOL) whale has garnered the attention of the crypto community after they withdrew some of its portfolio of crypto after more than four years of staking. According to blockchain tracking platform Lookonchain, the whale recently unstaked 100,000 SOL tokens — about $13.9 million — and put them on the popular cryptocurrency exchange, Binance. 

This move happened a couple of hours before it was posted on Lookonchain’s X handle, and it is said to be one of the most notable long-term stakes in the Solana ecosystem.

How Early Solana Bet Grew Into a Massive Fortune

On-chain data indicate that the investor staked 991,079 SOL tokens around four years ago when the price of SOL was slightly over $27.

AD 4nXdziuBt8rZrUALSiT2 b9 ZXy 6ykQawZMBNlGVvhRtwsCjdGnR0i0jRt5lL2o YquAh0swYA QPhxED7d26Vjo5j mWqRDO0l3xhw 0nUHhoSTQrDvMZ58oD EjzTYrIh MSnw?key=YaxCJJwrtBhY pW BAnEvme

Source: X @Lookonchain

Indeed, the years of staking hasn’t been without consequences, but it continued to present a wealth of opportunities for early investors in crypto, as this early Solana bet shows. Despite the recent $13.9 million withdrawal, the whale still retains a massive amount of SOL tokens in stake. 

The numbers show that over $166 million worth of SOL still lingers in the account address. This means that even after withdrawing a very large sum, the investor has left a majority of their holdings in the network, which could be a signal that the investor is willing to continue investing in Solana. 

Crypto Community Watchers Are Stunned by $153 Million Profit

With a total value of investments exceeding $166 million and an initial entry on the token at $27, the investor realized gains exceeding $153 million. Blockchain explorer, Solscan clearly shows which tokens were staked, which were unstaked, and which were transferred in a transaction.

The exact reasons for the withdrawal have yet to be revealed, whether for profit-taking, portfolio rebalancing, or any other reason. This kind of activity provides many retail investors with both the potential and the risks of staking and holding through market cycles.