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Mystery Crypto Whale Dumps $5M SOL for AI Tokens

Coin WorldThursday, Feb 13, 2025 10:37 am ET

1min read

A mysterious crypto whale has withdrawn $5 million worth of Solana (SOL) from Coinbase, potentially to accumulate more artificial intelligence (AI) related tokens, according to blockchain tracking firm Lookonchain. The anonymous investor initially spent nearly $8 million of Solana to buy AI-focused altcoins AI Rig Complex (ARC) and ai16z (AI16z), and then withdrew more than 25,000 SOL from Coinbase.

The whale may now use the SOL to buy even more AI-related tokens, as Lookonchain suggests the AI token trend may be making a "comeback." The mysterious whale withdrew another 25,306 SOL ($5 million) from Coinbase on Tuesday, possibly to buy more AI tokens. Earlier, the whale spent 38,138 SOL ($7.8 million) buying ARC and AI16z.

AI16z is trading for $0.4746 at the time of writing, down 8.9% in the last 24 hours. With a market cap of $530.2 million, the Solana-based token is the 158th largest crypto project. Meanwhile, ARC is trading for $0.3285 at the time of writing, up 13.6% in the last 24 hours. With a market cap of $321.1 million, the Solana-based token is the 228th largest crypto project.

Lookonchain also reports that crypto whales are suddenly buying massive amounts of Ethereum (ETH). Ethereum plummeted below $3,000 earlier this month and has since been chopping around the $2,600 level. Two whales withdrew another 49,250 ETH ($131 million) from Binance and Bitfinex.

ETH is trading for $2,678 at the time of writing, up 3.2% in the last 24 hours.

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