Dormant Solana Whale Reactivates Wallet, Stakes $4.25M in SOL

• Dormant Solana whale withdraws 50,000 SOL from exchanges
• Whale stakes $4.25 million instead of selling holdings
• Large unstaking event contrasts with new staking activity

A previously inactive Solana wallet has returned to activity after five months, moving a large amount of SOL across major exchanges. According to on-chain data shared on Twitter by Onchain Lens, the whale withdrew 50,000 SOL valued at approximately $4.25 million from Binance and Bybit. The transaction immediately drew attention because the wallet had remained dormant for months. According to Onchain Lens, the funds did not move toward selling platforms after withdrawal. Instead, the whale redirected the entire 50,000 SOL toward staking shortly after removing it from exchanges.

This development comes days after significant unstaking activity surfaced on the network. Whale Alert reported that 1,511,243 SOL worth over $125 million unlocked on Feb. 20 from an unknown wallet. That large unstaking event raised short-term supply concerns within the market. However, the newly reactivated whale chose a different path. Rather than unlocking tokens or preparing for sale, the address transferred its holdings directly into staking. Exchange withdrawals generally indicate holding intentions, while deposits often signal potential selling activity.

Also Read: Scottie Pippen Sparks Bitcoin Frenzy as Brandt Sees $250K by 2029

Solana Price Holds Key Levels Amid Mixed Whale Signals

At the time of writing, Solana traded at $84.90, reflecting a 0.38% decline over the past 24 hours. The asset recently rebounded from a low of $79.58 recorded on Feb. 19. Buyers attempted to push the price above $86 heading into the weekend, yet momentum remained limited.

If profit taking continues, price pressure may increase around the $80 support level. A break below that zone could expose lower targets near $76 and the Feb. 6 low of $67. Market participants continue monitoring both whale movements and technical levels closely.

The first notable resistance remains near $113, which aligns with the daily moving average 50. A move above that level would signal a structural shift in short-term momentum. Until then, Solana trades within a cautious range as large holders adjust positions.

Also Read: John Deaton Rejects Sam Bankman-Fried Pardon Talk as $78B FTX Claim Emerges

The post Dormant Solana Whale Reactivates Wallet, Stakes $4.25M in SOL appeared first on 36Crypto.