A Solana Whale Causes Market Stir

On Wednesday, a Solana whale significantly impacted the market by accumulating coins for staking purposes despite ongoing meme coin panic on the network.

On-chain data indicated that the whale withdrew 87,000 SOL, valued at $14.8 million, for staking, while the crypto’s price was approximately $169. This move led traders and investors to speculate whether the leading altcoin could reclaim a position above $200, after experiencing a 15% decline since last week amid a $4.5 billion SOL meme coin insider trading saga.