A crypto whale has staked 268,395 SOL, valued at $60.7 million, after acquiring tokens from Coinbase, signaling a long-term commitment to the Solana network.

The Event in Detail

A crypto whale has staked 268,395 SOL tokens, valued at $60.7 million. This staking follows the whale's acquisition of 270,000 SOL, worth $60.22 million, from Coinbase Institutional on September 10, 2025. The wallet currently retains 1,605 SOL. This event occurs amidst other significant staking activities, including a newly created wallet that staked 296,422 SOL, valued at over $50.8 million, after a withdrawal from FalconX.

Market Implications

This significant staking action by a major holder could contribute to a reduction in the circulating supply of SOL, potentially influencing price appreciation. It signals strong confidence from large holders, which may encourage broader investor participation and highlights the increasing utilization of staking on the Solana network. However, the broader market sentiment for Solana has shown some divergence. At the time of reporting on a separate whale staking event, SOL traded at $168.58, representing a 1.66% decrease in 24 hours. Derivatives data indicated market nervousness, with whale staking contrasted by $6.3 million in long liquidations, suggesting differing convictions within the market.

Business Strategy & Market Positioning

The consistent pattern of substantial SOL staking activities reflects a strategic commitment to the Solana ecosystem, aimed at leveraging staking yields and potential asset appreciation. Solana reportedly offers staking yields between 6.86% and 8%, surpassing Ethereum's reported 4.5% yields. This yield-driven strategy attracts institutional capital, creating demand for the asset as firms acquire SOL for staking purposes. By Q3 2025, over $1.72 billion in institutional capital had been allocated to Solana treasuries, with 13 publicly traded firms collectively holding 1.44% of the total supply. The REX-Osprey Solana Staking ETF (SSK), launched in July 2025, attracted $1.2 billion in inflows within 30 days, contributing to the normalization of Solana's inclusion in corporate balance sheets. Approximately 64.8% of Solana's circulating supply is staked, generating an estimated $12 million to $14 million in annual passive income for institutional holders.

Broader Context

Solana's network briefly surpassed Ethereum in staked token value on April 20, 2025, with $53.9 billion staked by 505,938 unique wallets, momentarily exceeding Ethereum's $53.93 billion from 34.7 million ETH. This shift underscores evolving dynamics in staking models and increased interest in Solana's staking benefits. While large holders are committing capital through staking, other significant entities have begun to realize profits. An address that initially staked 991,079 SOL in 2021 at $27, accumulating 1.29 million SOL, unstaked 100,000 SOL, valued at approximately $13.9 million, and transferred them to Binance on April 22, 2025. This address continues to hold 1.19 million SOL, valued at approximately $166 million. Separately, on April 4, 2025, four wallets that staked $37 million in SOL in 2021 had their tokens unlocked, with a value exceeding $206 million. Approximately $50 million of these tokens were subsequently sold.