Key Points
- The whale first withdrew $8.5 million in SOL from Binance and staked it in November 2023.
- SOL's price was recently boosted by Trump's addition of the coin to the US Crypto Reserve.
On-chain data revealed that a crypto whale made millions on Solana (SOL), making moves since 2023 using Binance.
Recently, SOL was in the spotlight following Trump's addition of the coin to the US Crypto Reserve, an event that boosted its price.
Crypto Whale Sees Total Profits Over $27 Million in SOL
Lookonchain analyzed the crypto whale's moves since 2023. The platform noted that, on November 8, 2023, the whale withdrew 200,000 SOL worth $8.6 million from Binance and staked it. Back then, SOL was trading at $43.
The platform also noted that on November 6, 2024, the crypto whale unstaked 120,000 SOL worth approximately $22.2 million and deposited the amount to Binance.
According to on-chain data, the whale now holds 98,727 SOL worth over $13,5 million at the time of Lookonchain's post, seeing a profit of over $27 million.
SOL was recently in the spotlight as its price was boosted by Trump's addition of the coin to the US Crypto Reserve.
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SOL, Added to the US Crypto Reserve
Following a recent significant token unlock event, SOL was added by US President, Donald Trump, to the US Crypto Reserve - he shared a post via X on March 2nd, highlighting that the new reserve would include SOL, ADA, XRP, ETH, and BTC.
The announcement triggered a surge in price for all the coins, and SOL surged from $140 on March 2nd, to prices above $178, reaching a market cap of $90,3 billion.
At the moment of writing this article, SOL is trading at $133,5 with a market cap of $67.8 billion.
Following Trump's support for SOL, its price surged by over 20%, before its downward trajectory.
Today, SOL is down by 19% amidst a crypto market overall decline of over 11% following Trump's recent tariffs on Canada, China, and Mexico, and an increase in stablecoin supply.
