By cryptoadmin In line with cryptocurrency onchain knowledge, a large cryptocurrency whale withdrew a considerable amount of altcoins from the Kraken alternate at present.
Onchain knowledge noticed by blockchain monitoring agency Onchain Lens has revealed {that a} newly created cryptocurrency handle not too long ago 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.
Primarily based on present staking reward charges, assuming the SOL value stays fixed at present ranges, if this whale stakes all of his cash for a yr, he’ll earn roughly $17 million on the finish of the yr. That is legitimate for the native staking mannequin.
If he makes use of liquid retaking fashions, this whale might earn a SOL reward price $23 million on the finish of a yr with the identical assumptions.
On the time of writing, Solana is buying and selling at $125, roughly 36% decrease than final yr. In different phrases, regardless of these staking rewards, there’s a chance that the crypto whale will lose cash in greenback phrases after staking.
*This isn’t funding recommendation.