In a well-planned transaction, ZkSjMB, the Solana (SOL) whale, has managed to earn close to $649,000 in profits in only a month by timing and carrying out their trade precisely.
Data and price records from Lookonchain show that at first, the whale purchased 44,116 tokens when the average price was $139.40, spending around $6.15 million.
The transaction took place a month back, during a time when the token was on the rise after recovering from its April slump.Â
Once the whale got the tokens, they placed them in two separate staking accounts to boost their passive income by a further 422 SOL, which is worth roughly $64,500.
With this approach, Whale was able to earn both growth in capital and rewards from Solana’s staking.
Unstaking Strategy and Binance Exit
It was revealed by blockchain data that the whale withdrew all the tokens, including their stake, and deposited them on Binance two hours before selling all of them. The tokens were sold at an average price of $152.92 per SOL, generating about $6.8 million in gross sales.
Since the middle of May, SOL has reached $180 and is currently back at a lower price. At the market set price of $153, the whale took action as the token’s pattern indicated volatility and a drop in value in the previous days.Â
By leaving their position when the market started going in the opposite direction, the trader made a full profit and stayed away from quick losses.
Staking Yields Amplify Whale Gains
The trade shows that whales in the Solana ecosystem are getting more sophisticated by blending staking rewards with changes in the token’s price to make more money.
Since Solana is down by about 3% for today and investors are feeling cautious, this action brings attention to the benefits of good timing and regularly using staking to profit from DeFi.
The smooth and lucrative transfer into Binance confirms the strong liquidity of this coin and the faith of the industry’s main players in trading big holdings without losing out on much value.Â
We will see if other whales join in, but investors are now paying close attention to more possible sell-offs.
