{"id":28238,"date":"2024-09-01T23:30:43","date_gmt":"2024-09-01T20:30:43","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=28238"},"modified":"2024-09-01T17:45:20","modified_gmt":"2024-09-01T14:45:20","slug":"sold-off-with-a-5-5-million-loss","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/sold-off-with-a-5-5-million-loss\/","title":{"rendered":"Sold Off with a $5.5 Million Loss"},"content":{"rendered":"

According to onchain data, a cryptocurrency<\/a> whale appears to have given up on holding a particular altcoin. Here are the details.<\/p>\n

Onchain analytics firm Lookonchain reports that a massive crypto address, believed to belong to a whale wallet or possibly an institutional investor, has unstaked its Solana (SOL) tokens. The investor withdrew $19.5 million worth of SOL from a staking platform.<\/p>\n

Following this, the wallet transferred 139,447 SOL, valued at $19.5 million, to Binance, resulting in a total loss of $5.5 million.<\/p>\n

The whale originally purchased these tokens in July on Binance when Solana was trading around $180 per coin, spending $25 million in total.<\/p>\n

At the time of writing, SOL is trading at approximately $131, having dropped about 19% over the past month. The token even touched a low of $112.<\/p>\n

Meanwhile, positive developments are happening within the Solana ecosystem. A memecoin creation platform on Solana, PumpFun, has reportedly generated $91 million in total revenue. The project sold 680,000 SOL, generating $40 million in sales at an average price of $158 per token.<\/p>\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0news<\/a>\u00a0and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

According to onchain data, a cryptocurrency whale appears to have given up on holding a particular altcoin. Here are the details. Onchain analytics firm Lookonchain reports that a massive crypto address, believed to belong to a whale wallet or possibly an institutional investor, has unstaked its Solana (SOL) tokens. The investor withdrew $19.5 million worth<\/p>\n","protected":false},"author":1,"featured_media":26082,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[22,58,1527,319],"class_list":["post-28238","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-binance","tag-cryptocurrency","tag-sol","tag-solana"],"yoast_head":"\nSold Off with a $5.5 Million Loss - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/sold-off-with-a-5-5-million-loss\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sold Off with a $5.5 Million Loss - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"According to onchain data, a cryptocurrency whale appears to have given up on holding a particular altcoin. 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