Solana News: SKYRN Token Garners Attention from BlockDAG and Solaxy Holders with Enhanced Airdrop Strategy

A new development in the cryptocurrency space has led to increased interest in the SKYRN token, particularly among holders of Solaxy and BlockDAG. Here’s what you need to know.

SKYRN Token Claims Popular Among BlockDAG and Solaxy Groups

SkyrenDAO is providing claimants with staking opportunities, governance voting rights, and access to premium airdrops instead of a single-time airdrop. This has led to an overwhelming response from the holders of Solaxy and BlockDAG. Solaxy is a Layer-2 scaling solution for Solana, designed to improve congestion and network efficiency, while BlockDAG improves network efficiency and transaction throughput via DAG architecture.

Crypto Whale Nets $1.51M Profit After Unstaking $5.05M in Solana

A significant move in the crypto market has caught the attention of analysts and investors. A Solana ($SOL) holder has recently unstaked a substantial amount of tokens after a year-long staking. According to data from Onchain Lens, the whale has withdrawn 36,156 $SOL, valued at approximately $5.05 million, earning a profit of $1.51 million in the process. The whale’s journey began on February 10, 2024, when he initially staked 32,999 $SOL and earned 3,157 $SOL from staking over the year.

Solana Consolidates In A Wide Range – Big Move On The Horizon?

Solana has faced intense selling pressure and price swings, losing over 57% of its value since January 13. market sentiment suggests that the crypto market is not in a healthy condition for a strong recovery. Investors remain cautious, watching for signals of a potential trend shift. However, some analysts believe that this correction could be nearing its end and are looking for key technical confirmations that could indicate a reversal or breakout in the near future.

Solana (SOL) Gaining Ground with Institutions Like Galaxy

Institutional interest in Solana [SOL] has remained high. On March 7, SOL Strategies, a pioneer in corporate treasury through SOL, acquired an additional 24k tokens worth $3.3M. The firm now holds 250.7k SOL and has expanded its services in the Solana ecosystem, including validator and staking services. This acquisition aligns with the company’s strategy to expand its SOL holdings to support its validator operations and long-term investment approach in the ecosystem.