Crypto Whales Amass Over 200,000 SOL as Solana Eyes Breakthrough to Top 4 Cryptos

Crypto whales are accumulating over 200,000 SOL, the native token of Solana, as the smart contract platform aims to break into the top 4 cryptocurrencies. These whales have added approximately $35 million worth of SOL to their wallets, according to on-chain analysis service Lookonchain. One whale withdrew 153,511 SOL from Binance and staked it, while another withdrew 35,498 SOL from both Binance and Kraken before staking. A third whale withdrew 13,000 SOL from Binance, bringing their total SOL holdings to 95,651 tokens. CoinShares’ Digital Asset Fund Flows report also notes that Solana investment funds saw $10.8 million in net inflows in the past week. As SOL continues to rise, it is on the verge of surpassing Binance’s BNB to become the fourth-largest digital currency by market capitalization. However, it’s important to note that SOL and BNB have different supply mechanics, with SOL being inflationary and BNB having a burning mechanism.