The digital asset market always offers exciting investment opportunities to traders and investors. PAIN token presale is currently attracting the attention of Solana whales. According to data reported by Lookonchain today, a Solana whale captured public interest after accumulating huge amounts of PAIN tokens presale.
Whale buys 215,328 PAIN tokens
As per data shared by Lookonchain today, a big investor created a new wallet and withdrew 20,000 Solana tokens worth $4.3 million from Binance to buy PAIN tokens presale. As a result, the investor obtained 215,328 PAIN tokens (worth $3.85 million) and a refund of 16,000 Solana tokens valued at $2.75 million. Currently, he holds an unrealized profit of $2.3 million from the presale.
This trader’s action suggests that although Solana is still a dominant crypto asset, whales are making significant shifts in the market. Big investors or whales are now focusing their attention on emerging altcoins that are considered to have high growth potential.
Meanwhile, the withdrawal of Solana coins by this investor signals heightened Solana whales’ activity. Whales seem to be participating in accumulations of Solana tokens. The token acquisition is a reflection of Solana’s continued experiencing significant capital inflows.
Data according to Artemis shows that the Solana network obtained $150 million in fund inflows over the past seven days. The total capital influx into the Solana network ranked second after Base, after outperforming Bitcoin, Ethereum, Arbitrum, Polygon, and others. These inflows indicate that investors maintain their enthusiasm for Solana.
The price of Solana is anticipated to surge because of a decline in circulating supply whenever big investors engage in acquisition-focused transactions. Typically, buying actions from whales result in a rise in the Solana price. Market participants often pay attention to such whale transactions as they are indicators of crucial market changes.
What is PAIN token?
Pain, a meme coin based on the Solana network, has come into the public limelight after raising 187,774 SOL ($39.2 million) in just two days of the recent presale. This showcases its strong growth potential, which explains the reason savvy investors target the asset.
