TL;DR
- A Solana investor known as “smart whale” sold 265,070 SOL on Binance, generating nearly $44 million in profits.
- Despite the sale, the investor still holds a significant amount of assets in SOL, as well as $24.72 million in JitoSOL and 126,631 SOL valued at $20.58 million.
- Currently, the price of SOL has decreased by 0.5%, standing at $162, but monthly trends indicate a growth of 12%.
A whale has shaken the crypto market with a significant sale of Solana (SOL), as the investor managed to capitalize nearly $44 million in profits.
According to blockchain data, on November 4, the investor known as “smart whale” sold 265,070 SOL on the Binance platform, reaching an approximate value of $43.96 million. This transaction followed an earlier purchase of 500,862 SOL, which had cost around $11.81 million and was made between August 7 and October 23, 2023.
The sale has allowed the value of the investor’s initial investment to increase to about $81.14 million, reflecting a considerable profit. Despite the sale, the investor maintains a substantial amount of assets in SOL, as well as $24.72 million in JitoSOL, in addition to 126,631 SOL valued at $20.58 million. This totals approximately $87 million in profits.
Solana (SOL) Remains Undervalued
Regarding the price of SOL, there has been a slight decrease of 0.5%, standing at $162. Recent market fluctuations have shown a low of $158.14 and a high of $164.71. Despite this volatility, monthly trends point to a 12% increase, suggesting potential for future growth. According to analysts, the token is still considered undervalued, as its current price is 37% lower than the previous peak of $260.06.
However, Coinglass data indicates a 7.55% decrease in futures open interest over the last day, now standing at $3.02 billion. This drop has prompted investors to remain alert and closely monitor SOL’s price movements.
