Blockchain tracking service Lookonchain recently disclosed that several cryptocurrency “whale” investors have been rapidly accumulating significant amounts of Solana (SOL) from leading exchanges Binance and Kraken, and subsequently staking the funds. This action typically indicates a long-term investment perspective.
In the past week, three prominent whale wallets withdrew nearly $35 million worth of SOL, moving it away from exchanges and into staking mechanisms.
One of these whales withdrew approximately 153,511 SOL from Binance, valued at $26.4 million, over a period of six days starting on October 27.
Another account withdrew around 35,498 SOL, worth approximately $6.12 million, over three days and also transferred the funds into staking. The third whale removed 13,000.8 SOL, equivalent to about $2.3 million, bringing their total holdings to over 95,000 SOL. This is a substantial amount considering Solana’s trading price of $180.
Lookonchain’s analysis also observed a recent surge in new wallet activity for Neiro (NEIRO), an Ethereum token positioned as a “sister” to Dogecoin.
One wallet, created on October 26, withdrew 230.4 ETH (valued at $575,000) from OKX to acquire over 8 million NEIRO tokens. Another new wallet transferred 5.41 million NEIRO, worth $453,000, from Gate.io. Despite a recent decline in value, NEIRO ranks as the 465th-largest crypto project with a trading price of $0.09177 and a market cap near $91.75 million.
This surge of activity in both SOL and NEIRO indicates targeted moves by large-scale investors, often interpreted as strategic signals within the crypto market.