According to cryptocurrency onchain data, a large whale has started selling profits in Solana (SOL), which has been experiencing a recent rally.
Data provided by Lookonchain reveals that the whale in question has made a profit in the recent period, selling a total of 265,070 SOL, or approximately $43.96 million.
This massive crypto whale purchased 500,862 SOL at an average SOL price of $23.6 at the time, between August 7, 2023, and October 23, 2023, paying a total of $11.81 million. The current value of these assets is $84.14 million.
The whale currently has a total of 132,089 JitoSOL ($24.72 million) and 126,631 SOL ($20.58 million) in assets, including previous purchases. JitoSOL represents Solana coins staked as a liquid staking derivative.
The massive crypto whale has made a total of $87 million in profits from Solana to date, some of which still sits unrealized in his wallet.
*This is not investment advice.