Kraken Receives $7.49 Million SOL Deposit from Dormant Whale, Sparking Market Concerns

A previously inactive whale has unstaked 63,081.6 SOL tokens, valued at $7.49 million, and deposited them into Kraken, realizing a profit of $6.2 million. This move has raised concerns about Solana’s price stability and highlights the growing trend of crypto staking for passive income.

Dormant Whale Unstakes 63,081.6 SOL Tokens, Raises Concerns

A dormant whale has unstaked 63,081.6 SOL tokens worth $7.49 million and deposited them into Kraken, making a return of $6.2 million. This action has raised concerns over Solana’s price momentum. The whale’s trading activity highlights the profitability of crypto staking, which is becoming increasingly popular for generating passive income. Staking platforms typically have a lock-in period for earning rewards.

Solana (SOL) Freefall—Can It Hold Above The $100 Danger Zone?

Solana (SOL) price has started a fresh decline below the $112 support zone and is now consolidating. There was a break below a key contracting triangle with support at $118 on the hourly chart. SOL is trading below $105 and the 100-hourly simple moving average. The price could accelerate lower if there is a break below the $100 support zone. SOL price dipped over 15% as it declined below $122, $115, and $112 levels.