Compass Investments

Crypto vs. Dollar

📌 Cryptocurrency kit attracts more than 200,000 SOLs as Solana aims to become one of the top four cryptocurrencies

As the price of SOL, the native token of the Solana smart contract platform, continues to rise, various cryptocurrency whales have started collecting SOLs, topping up their wallets with more than 200,000 SOLs worth around $35 million. Sol

– As the price of SOL, the native token of the Solana smart contract platform, continues to rise, various cryptocurrency whales have started collecting SOLs, topping up their wallets with more than 200,000 SOLs worth around $35 million.

the past few days, three different cryptocurrency whales have added more than $35 million to their SOL wallets, with one whale withdrawing 153,511 SOLs from leading cryptocurrency exchange Binance and another whale betting to withdraw 35,498 SOLs from Binance and Kraken, according to analytics service Lookonchain.

a third whale identified by the service withdrew just over $13,000 SOL from Binance, bringing the total number of SOLs to 95,651 tokens worth $16.8 million.

whales have accumulated $SOL!

AA21… .VxH9 has withdrawn $153,511 $SOL ($26.4M) from #Binance in the last 6 days, putting him on the map.

EHax… .gAUa has withdrawn $35,498 $SOL ($6.12M) from #Binance and #Kraken in the last 3 days, putting it on the map.

According to CoinShares’ latest Digital Asset Funds Flow Report, Solana Investment Funds recorded net inflows of $10.8M last week, marking the fourth consecutive week of inflows.

the same report, Bitcoin investment products recorded net inflows of $920 million last week, while Ethereum products recorded outflows of $34.7 million, bringing the cryptocurrency products’ total inflows to $901 million.

Solana saw net inflows of $10.8 million from digital asset investment products, marking the fourth consecutive week of inflows.Bitcoin led the way with $920 million in inflows, with only Ethereum and Cardano seeing outflows.

investors are piling into SOL at a time when the cryptocurrency has nearly surpassed BNB on Binance to become the fourth-largest digital currency by market capitalization.

It’s worth noting that while both cryptocurrencies are gas tokens used in the blockchain that underpins the decentralized financial ecosystem, their delivery mechanisms are very different.

BNB has a real-time flaring mechanism introduced in BEP-95 that attempts to reduce the total supply in circulation by flaring a portion of the gas price collected in each blockchain, while Solana does not have a maximum supply, but rather has an inflation mechanism.

Bitcoin

Bitcoin

$68,223.03

BTC -1.95%

Ethereum

Ethereum

$2,436.21

ETH -2.78%

Binance Coin

Binance Coin

$560.08

BNB -2.58%

XRP

XRP

$0.50

XRP -2.68%

Dogecoin

Dogecoin

$0.15

DOGE -6.72%

Cardano

Cardano

$0.34

ADA -6.13%

Solana

Solana

$161.25

SOL -3.40%