Four Years, £153M Later: Solana Whale Makes £153M Profit After Four-Year Staking

A Solana whale is reaping the rewards of a long-term staking strategy, now sitting on a staggering $153 million in unrealised profit. According to blockchain analytics firm Lookonchain, the Solana whale originally staked nearly 1 million SOL tokens in 2021, when the token was trading at around $27.

Fast forward four years, and the whale’s stake has grown to 1.29 million SOL, now worth approximately $180 million at current market prices. The initial investment of $27 million has ballooned into one of the most successful Solana whale plays in recent memory.

Whale Begins Offloading: 100,000 SOL Sent to Binance

On 22 April, Lookonchain flagged significant movement from the address, suggesting the Solana whale has begun taking profit. Around 100,000 SOL—worth roughly $14 million—was unstaked and transferred to Binance, a common precursor to selling.

Despite this offload, the Solana whale still holds 1.19 million SOL, valued at around $166 million. With the original investment pegged at $27 million, the total profit for the address now sits at $153 million—yet another remarkable gain in the world of high-stakes crypto trading.

Other Solana Whales Join the Party

This isn’t an isolated move. Earlier in April, Arkham Intelligence highlighted four additional Solana whales who had their tokens unlocked after a three-year lock-in. These addresses staked $37 million worth of SOL back in 2021. Upon unlocking, their holdings were valued at a massive $206 million.

Roughly $50 million in tokens from that batch were quickly offloaded, adding fuel to the narrative that Solana whales are beginning to take profits en masse as the asset’s price climbs.

Solana Briefly Flips Ethereum in Staking Market Cap

The influence of Solana whales on the broader network is becoming increasingly apparent. On 20 April, Solana briefly surpassed Ethereum in staking market cap, with the total staked value exceeding $53 billion. While Ethereum reclaimed the lead shortly after, the moment marked a significant milestone for the Solana ecosystem.

However, not everyone viewed the flipping as bullish. While some hailed it as a sign of Solana’s maturity, others questioned the long-term implications, noting the potential sell pressure now that large volumes of staked SOL are becoming liquid.

What Must Be Learnt From the Solana Whale

The recent moves by this Solana whale remind one of the growing concentration of power within the crypto landscape. As staking matures and larger players accumulate vast token holdings, their actions begin to resemble those of institutional market movers—capable of swaying sentiment and triggering major shifts with a single transaction. The decision to start offloading SOL after a four-year wait speaks volumes about the long-term vision that some whales bring to the table—strategic, patient, and deeply calculated.

Yet, it also raises concerns. What happens when more Solana whales decide it’s time to sell? Can retail investors keep pace in a market increasingly dominated by deep-pocketed players? As Solana briefly overtook Ethereum in staking market cap, the network finds itself at a crossroads—celebrated for its success, but now facing the volatility that such concentrated wealth inevitably brings.

The question now is not if, but when the next whale moves. Stay glued to The Bit Gazette for the latest updates.