- Significant SOL withdrawal by whale KMhcqN from Kraken.
- 164,000 SOL moved since July 8, 2025.
- Staking activity suggests confidence in Solana’s future.
Solana whale identified as “KMhcqN” withdrew 76,000 SOL, valued at $14.5 million, from Kraken on July 24, 2025.
One whale account has influentially withdrawn and staked SOL, with implications for Solana’s perceived long-term value. Kraken confirmed a whale’s 76,000 SOL withdrawal, marking part of a broader transfer trend since July 8. Between these periods, the whale cumulatively transferred 164,000 SOL, an action notable within cryptocurrency tracking circles.
The involved whale, wallet address KMhcqN, is under observation but lacks public association with any crypto leaders or firms. The staked SOL reflects strategic positioning, potentially aligning with an expectation of market gains and future price stability.
The Solana market value dropped 8.5% to $183 during the activity, while Solana’s market cap decreased. This acts as a reminder of whale influence on currency valuation and market behavior.
Historically, such large-scale staking often indicates investor confidence, sparked by bullish expectations. As price and availability changes affect market momentum, SOL staking like this supports volatility resilience and potential price increment.
Investors may interpret the whale’s actions as a positive signal for Solana’s blockchain prospects. Such events emphasize the role of strategic staking and how large asset holders can pivot markets.
Ali Martinez, Crypto Analyst, Twitter, noted, “Solana $SOL is breaking out of a textbook cup and handle pattern, with a breakout target of at least $1,315!”
