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Cryptokit earns $ 44 million on Solana token
On Monday, November 4, a cryptocurrency investor sold 265,070 Solana tokens to SOL $255.29 Solana -1.58% Market capitalization $121.18 billion VOL. 24 hours $1.27 billion for approximately $ 43.96 million, a significant profit after a previous purchase of SOL for $ 11.81 million. The deal brought the investor’s total profit to $ 87 million and sparked optimism in the crypto market, despite recent price fluctuations.
It is noted that the first previous purchase of 500,862 SOL for $ 11.81 million took place between August 7 and October 23, 2023. Since the purchase, the value has risen to about $ 81.14 million, indicating a significant profit.
Currently, this investor still owns a significant number of assets, including $ 24.72 million in JitoSOL and 126,631 SOL worth $ 20.58 million, which together provides a profit of $ 87 million and contributes to optimism in the cryptocurrency market.
As of November 4, the price of SOL was down 0.5% to $ 162, with recent fluctuations showing a low of $ 158.14 and a high of $ 164.71. Despite this volatility, the monthly trend shows a 12% increase, which may indicate a potential further increase.
According to CoinGape Media's analysis, SOL remains undervalued and is trading 37% below its peak of $ 260.06, but according to Coinglass, over the past day, there has been a 7.55% drop in open positions on futures, reaching $ 3.02 billion, forcing investors to keep a close eye on further fluctuations in the SOL price.
Earlier it was reported that investments in Solana blockchain applications grew by 54% in the third quarter of 2024, reaching $ 173 million, and at the end of October, the blockchain surpassed Ethereum in terms of daily commissions.
In early November, cryptocurrency «whales» actively invested in Solana, which may indicate that the crypto asset is approaching new highs. Recently, a large digital token holder withdrew 206,111 SOL from Binance (approximately $ 36 million) and started staking tokens, indicating growing confidence in Solana’s prospects.