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Whale Sells 100,000 Staked SOL, Realizing $3.6M Loss

Blockchain data reveals multiple high-loss Solana trades by a major holder, now heavily invested in meme coin WhiteWhale despite steep market cap declines.

SOL

Summary

A Solana whale known as 'degen-retard.sol' previously sold 100,000 staked SOL at a $3.6 million loss, adding to a $6.6 million deficit from earlier trades. New blockchain data shows the trader, identified as 'TheWhiteWhale,' now holds 58.13% of meme coin WhiteWhale’s supply, worth over $2.1 million, after accumulating tokens this week without selling. WhiteWhale’s market cap has dropped 57% to $59 million, leaving the address with an unrealized $86,000 loss.

Terms & Concepts
  • Staking: The process of locking cryptocurrency in a blockchain network to support operations like transaction validation, in return for rewards.
  • Whale: A term used for individuals or entities that hold large amounts of cryptocurrency, capable of influencing market movements.
  • SOL (Solana): The native cryptocurrency of the Solana blockchain, used for transaction fees, staking, and governance.