In response to cryptocurrency onchain information, a large cryptocurrency whale withdrew a considerable amount of altcoins from the Kraken trade at this time.
Onchain information noticed by blockchain monitoring agency Onchain Lens has revealed {that a} newly created cryptocurrency deal with just lately withdrew 1.77 million Solana (SOL) cash, or roughly $223 million price of SOL, by way of Kraken.
The contemporary whale then staked all of those cash.
Based mostly on present staking reward charges, assuming the SOL value stays fixed at present ranges, if this whale stakes all of his cash for a 12 months, he’ll earn roughly $17 million on the finish of the 12 months. That is legitimate for the native staking mannequin.
If he makes use of liquid retaking fashions, this whale may earn a SOL reward price $23 million on the finish of a 12 months with the identical assumptions.
On the time of writing, Solana is buying and selling at $125, roughly 36% decrease than final 12 months. In different phrases, regardless of these staking rewards, there’s a risk that the crypto whale will lose cash in greenback phrases after staking.
*This isn’t funding recommendation.
