According to Lookonchain, crypto whales have started to actively accumulate SOL. Specifically, analysts revealed information about multi-million dollar transactions involving three whale addresses. It is noted that the purchased altcoins were allocated for staking to generate passive income. These millionaire investors have shown an intention to maintain medium- and long-term positions.
Whales are accumulating $SOL!
AA21…VxH9 withdrew 153,511 $SOL($26.4M) from #Binance in the past 6 days and staked it.
EHax…gAUa withdrew 35,498 $SOL($6.12M) from #Binance and #Kraken in the past 3 days and staked it.
EGzi…mR7g withdrew 13,000.8 $SOL($2.3M) from #Binance… pic.twitter.com/pfd24qTuSy
— Lookonchain (@lookonchain) October 27, 2024
This behavior is noticeably different from the recently observed trend, which focused on short-term, highly speculative profits. Many millionaires with Solana addresses had been using SOL to purchase meme coins, which often turned out to be fraudulent projects, according to signals highlighted by Finbold.
Additionally, on October 27, the publication received data from Arkham Intelligence, which complemented the findings of Lookonchain made over the weekend.
3 millionaire investors in Solana are buying and staking SOL
First, in the last six days, 153,511 SOL were withdrawn from Binance from the address "AA21BSr(…)" totaling $26.4 million. The millionaire investor then allocated a significant portion of these funds through the liquid portfolio of Marinade Finance, acquiring MSOL tokens.
Secondly, "EGzicbS(…)" recently added 13,000 SOL to a position of 95,651 SOL, amounting to a total of $16.83 million. However, this position remained liquid in the native token without staking and can be sold at any moment.