A major investor in Solana (SOL) has transferred ~594,000 coins worth about $86 million to Coinbase, Binance, and OKX exchanges in regular transactions since January. This was noticed by Lookonchain.
A whale sold 594K $SOL($86M) this year!
Since Jan 15, this whale has deposited 594K $SOL($86M) to #Coinbase, #Binanceand #OKX,averaging one sale per week.
The last sale was 16 hours ago.https://t.co/v6mJegPKCa pic.twitter.com/5CU24VPvtt
— Lookonchain (@lookonchain) August 13, 2024
On average, the address made one sale per week, the experts noted. The amounts at one time did not exceed 20,000 SOL (~$2.8 million).
The address started transactions on January 15th when the coin price was around $94. During this period, quotes managed to exceed $202 and fell to levels around $147 by the time of writing (CoinGecko).
At the same time, Lookonchain analysts drew attention to the activity of the Ethereum whale from the cryptocurrency’s ICO, which sent 48,500 ETH ($154 million) to OKX over the past 35 days.
IN Cointelegraph suggested that both investors were using the strategy DCAIt involves regular purchase/sale of an asset in equal shares, which reduces the impact of price volatility.
This approach allows you to focus on long-term prospects and not pay attention to exchange rate fluctuations.
Stay up to date! Subscribe to World Stock Market on Telegram.
Source: Cryptocurrency
I am an experienced journalist and writer with a career in the news industry. My focus is on covering Top News stories for World Stock Market, where I provide comprehensive analysis and commentary on markets around the world. I have expertise in writing both long-form articles and shorter pieces that deliver timely, relevant updates to readers.
