YEREVAN (CoinChapter.com) — A Solana (SOL) whale has been steadily promoting off tokens all through 2024, with the most recent sale amounting to $2.8 million. This ongoing collection of transactions has now introduced the full worth of tokens offered by this whale to $84 million.
Solana Whale’s Regular $84M Promote-Off Attracts Consideration
On August 13, blockchain analysis agency Lookonchain reported {that a} Solana whale has been promoting off tokens often since January 15, 2024.
The whale has transferred about 594,000 SOL tokens to main exchanges like Coinbase, Binance, and OKX. The newest transaction concerned 20,000 SOL tokens, valued at $2.8 million.
These weekly gross sales have attracted consideration because of the giant quantity of tokens concerned. The whale’s actions have prompted discussions inside the crypto group, with many noting the regular tempo of those transactions.
Greenback-Price Averaging Technique in Solana Gross sales
The Solana whale has been utilizing a dollar-cost averaging (DCA) technique to promote the tokens. This technique entails promoting tokens in smaller, common increments slightly than suddenly. By spreading out the gross sales, the whale avoids making a single, giant transaction.
The DCA technique is usually utilized in investing, together with within the crypto market. It helps cut back the influence of market volatility by making common transactions. The whale’s common gross sales since January counsel a calculated method.
Ethereum Whales Present Contrasting Strikes: $154M Offered, $12.8M Purchased
One other notable transaction comes from an Ethereum (ETH) whale linked to the Ethereum preliminary coin providing (ICO). Since July 8, 2024, this whale has been promoting ETH, depositing $13.2 million value of the cryptocurrency into OKX on August 12. The full worth of the deposits now stands at $154 million.
In distinction, one other Ethereum pockets bought 5,000 ETH on the identical day, including $12.8 million to its holdings. Primarily, these transactions spotlight the totally different methods utilized by giant crypto holders.