Solana whale sits on $153M profit after 4-year staking play
A Solana address holding over 1 million tokens has realized over $153 million in profit after a four-year staking strategy. The wallet, identified by Lookonchain, staked nearly 1 million SOL tokens in 2021 at a price of around $27, totaling approximately $27 million. Four years later, the value of the holdings increased to about $180 million as Solana appreciated to around $140. The whale began selling portions of the stash on April 22, unstaking 100,000 SOL tokens worth about $14 million and transferring them to Binance, indicating a potential sale. The whale retains 1.19 million SOL, valued at approximately $166 million. In another staking event, four wallets that staked $37 million in 2021 had their tokens unlocked, resulting in over $206 million in value, with about $50 million sold. Additionally, Solana briefly surpassed Ethereum in staking market cap, reaching over $53 billion before Ethereum regained its position. Community sentiment remains divided on the implications of this event for Solana.
