Solana, a cryptocurrency that is worth tens and millions of dollars has been sold by a crypto whale.SOLOn-chain data show that the number of shipments has increased since January.
The whale was first tracked by blockchain tracking site Lookonchain sold SOL will be releasing the first SOL batches on January 15, 2019.
According to on-chain information, over the following weeks and months the whale dumped 614,000 SOL valued at $89 million, across Coinbase, OKX, and Binance.
One sale a week is the average for The Whale. according Lookonchain
According to on-chain information, it seems that an amount of around 100,000 SOL has been withdrawn from stake platforms in the past thirty days and deposited at the three cryptocurrency exchanges.
SOL was trading for $142.66 as of the time this article is written.
CoinShares, a digital asset manager, has released a report stating that Solana’s institutional crypto products saw outflows of millions last week.
“Solana saw outflows of US$39 million, the largest on record, as it faced a sharp decline in trading volumes of memecoins, on which it heavily relies.”
In contrast, Bitcoin (BTCEthereum (ETHInflows into investment products increased by % over the same time period.
Bitcoin saw inflows of US$42million, while exchange-traded funds (ETFs) that are short bitcoin saw an outflow for the second week running totaling US$1million.
Ethereum’s US$4.2m inflows were masked by a lot of activity. Grayscale, for example, saw US$118m inflows.
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