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Whale Stakes $3M in SOL, Boosting Solana's Staking to $43M

Coin WorldWednesday, Mar 5, 2025 8:39 pm ET
1min read

A significant player in the cryptocurrency market, often referred to as a "whale," has recently withdrawn 21,259 SOL (Solana) from the Kraken exchange, valued at approximately $3.07 million, and staked it. According to data from OnchainLens, the wallet address associated with this transaction now holds a total of 297,729.51 SOL, valued at around $43.33 million, in a staked state.

This move by the whale comes amidst a backdrop of increasing interest in staking, a process that allows cryptocurrency holders to earn rewards by locking up their assets to support the network's security and functionality. Staking has become an attractive option for investors seeking passive income in the volatile cryptocurrency market.

The Solana network, which uses a proof-of-history consensus mechanism, has gained significant traction in recent months due to its high speed and low transaction fees. As a result, Solana has become an attractive option for stakers, with the total value locked in Solana staking contracts reaching new all-time highs.

This whale's decision to stake a substantial amount of SOL could be seen as a vote of confidence in the Solana network and its long-term prospects. As the cryptocurrency market continues to evolve, the actions of whales like this one can have a significant impact on market sentiment and investor behavior.

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Serious_Procedure_19
03/06
Staking SOL, ignoring FUD, reaping rewards 🚀
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Dvorak_Pharmacology
03/06
@Serious_Procedure_19 How long you holding SOL? Any predictions on where it's headed?
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Fidler_2K
03/06
@Serious_Procedure_19 I had SOL, sold early. FOMO hitting hard now, regretting my decision.
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GnosticSon
03/06
Solana staking is 🔥 right now. This whale knows something big is coming. I'm all in for the long haul.
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Accomplished-Bill-45
03/06
Whale's SOL move = bullish signal for staking.
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hey_its_meeee
03/06
@Accomplished-Bill-45 Bullish vibes, for sure.
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UpbeatBase7935
03/06
$SOL staking demand is lit, whale knows
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Certain-Dragonfly-22
03/06
$SOL is my dark horse pick. Fast, cheap, and secure. Gotta love the tech. Staking is my passive income dream.
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donutloop
03/06
Proof-of-history is the future. Solana's not just a trend, it's a game-changer. Hodl and watch it grow.
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CurlyDarkrai
03/06
Hodl SOL, stake some, diversify strategy, y'all
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GlobalEvent6172
03/06
Whale moves always make waves. If they're betting on Solana, I'm considering doubling down. Staking rewards are juicy.
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paperboiko
03/06
Staking SOL is like printing money, but watch out for the bull traps. 🚀
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investortrade
03/06
@paperboiko Watch out, indeed.
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