A whale withdrew 50,000 SOL from a CEX, which will be used for staking

BlockBeats News, April 7th, according to OnchainLens monitoring, a whale withdrew 50,000 SOL from Gate.io (worth $5.07 million), suspected to be staking.

Prior to this, over the past 7 months, the whale had staked 264,990 SOL (worth $52.4 million), earned 5,125 SOL, but currently faces a unrealized loss of $24.97 million.

Source

Correction/Report

RelatedRecommended

VanEck: Why did we apply for the SOL ETF?

SOL may reach $3,211 per coin in 2030

Opinion: Why is a SOL ETF so Hard to Come By?

Given SOL's current market cap and circulation, it's probably going to be tough for these institutions to make money.

From Leading to Lagging: Why SOL Struggles to Keep Up with ETH's Momentum

The True Reasons for SOL Lagging Behind ETH: Treasury Strategy, ETF, and Narrative Gap

What's the Background of the 18 SOL Treasury Companies?

18 companies have participated in the Solana ecosystem by establishing a Solana Treasury, staking SOL tokens, launching Solana-based financial strategies, among other means. Some companies have seen a significant increase in their stock price through these strategies.

SOL Truth: 0.33% of Wallets Control 54% of Tokens, Lockup and Staking Mysteries Unresolved

Where Do SOL Whales Hide?

On-Chain Activity