Whales in the cryptocurrency market have been actively acquiring Solana (SOL) and NEIRO from Binance and Kraken exchanges, as reported by blockchain monitoring firm Lookonchain. The data reveals that three major players have recently made significant purchases of Solana.
One wallet identified as AA21 withdrew 153,511 SOL (equivalent to $26.4 million) from Binance within the past six days and staked it. Another investor, known as EHax, also staked 35,498 SOL (valued at $6.12 million), which was withdrawn from both Binance and Kraken over the last three days.
In addition, Lookonchain has noted that newly created wallets have accumulated over 13 million NEIRO from OKX and Gate exchanges. NEIRO is described by the project as the official sibling of DOGE.
At the time of writing, Solana is trading at $181, experiencing a 3.63% increase in the last 24 hours. While Solana’s market capitalization is on the rise, NEIRO has a market cap of $91.75 million and currently ranks 465th on ETH. The impact of these substantial investments on the price and liquidity of these digital assets is highly anticipated.
Experts suggest that these significant purchases could have a positive influence on the future performance of Solana and NEIRO. However, considering the volatile nature of cryptocurrency markets, it is important for investors to exercise caution.
Large exchanges such as Binance and Kraken play a crucial role in facilitating these large-scale transactions. The liquidity provided by these exchanges allows significant investors to effectively manage their positions.
By closely monitoring these movements in the crypto market, investors can evaluate potential opportunities. The future developments of cryptocurrencies like Solana and NEIRO may shape investment strategies in this field.
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Disclaimer: The information provided in this article should not be considered as investment advice. Investors should be aware that cryptocurrencies carry high volatility and risk and should conduct their own research.
