- Whale Staking Locks 1.77M SOL, Reducing Supply
- $223M SOL Staked Signals Long-Term Investor Confidence
- Staking Rewards Could Hit $23M Amid SOL Accumulation
A large whale transaction has drawn attention to Solana (SOL) after an investor purchased 1.777 million SOL—valued at $223 million—on Kraken. The entire amount was immediately staked, signaling confidence in the blockchain’s long-term growth. This transaction, tracked by Onchain Lens and reported by Ash Crypto, has sparked discussions in the cryptocurrency community.
Whale Accumulation and Staking Reduce Available Supply
Blockchain monitoring platforms confirmed that a newly created address withdrew 1.777 million SOL from Kraken before locking it into staking. Staking removes tokens from circulation for a set period, reducing selling pressure on the market. Unlike typical large trades that may lead to price swings, staking suggests a long-term commitment rather than short-term speculation.
The whale’s decision to stake rather than hold or sell suggests confidence in Solana’s future. With fewer SOL tokens available for trading, market stability may improve. Such transactions often attract attention from institutional investors looking for assets with strong adoption and growth potential.
Staking Rewards and Institutional Interest in Solana
Based on current staking rewards, the whale could earn up to $17 million in a year if the SOL price remains stable. If liquid staking models are used, potential rewards could increase to $23 million. These figures make staking an attractive option for large investors seeking passive income while supporting blockchain security.
Solana continues to gain interest from institutions due to its low transaction fees and high-speed processing. The recent whale transaction aligns with growing institutional involvement in SOL. As more investors allocate funds to the network, demand may continue to increase, contributing to positive price action.
This large-scale accumulation and staking event indicate strong confidence in Solana. With more tokens being locked, the market will closely watch how this affects future price movements.
