Solana Sees Enormous Whale Trading Volumes in the Last 24 Hours

Solana

Solana trading by whales or large holders came into the spotlight in June

According to whalestats, Solana now ranks among the top 10 in terms of trading volume among the 500 largest BSC whales in the last 24 hours. Solana trading by whales or large holders came into the limelight in June when the status of a solana whale came dangerously close to liquidation.

The anonymous wallet at issue had reportedly deposited 95% of Solend’s entire SOL pool and represented 88% of USDC borrows. During the massive crypto liquidations witnessed during the market drop in June, the wallet reportedly used by Solend’s single largest user came dangerously close to a hefty margin call.

Solana developers were concerned that a large-scale liquidation of millions of dollars could affect Solana’s decentralized exchange, causing the network to come to a standstill. Hence, a move was initiated to take over the account, which was later invalidated.

At the time of publication, Solana was changing hands at $42.75, down 3% in the last 24 hours and 10% higher since the past week.

Solana steals the show at top US music festival

Solana tweeted about her most recent appearance at the Lollapalooza event over the weekend, saying: “It was special to see thousands of festival goers interact with NFTs for the first time during the Dopamine Treasure Hunt. The direction to bring NFTs and cryptos to life.” One more step in. People.”

Lollapalooza is an annual four-day music festival held in Grant Park in Chicago, attracting over 400,000 in attendance.

In the past week, Solana Blockchain announced that it was opening a retail location in New York City; However, it does not intend to sell anything. The Solana Space, located in the high-end Hudson Yards on Manhattan’s West Side, intends to become a “centre of culture.” The Solana Foundation sees it as a place where people will “hang out” and learn about cryptocurrencies.

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