A whale staked 20,000 SOL tokens, earning 466 staking rewards, but incurred a floating loss of $1.27 million due to the token price. The entire amount...
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TL;DR
A whale staked 20,000 SOL, earning 466 SOL in rewards, but faced a $1.27 million loss due to SOL's price drop, then deposited all holdings back to Kraken.
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HAILookonchainChainSOLstakingwhalecrypto lossKraken
On January 19, according to lookonchain monitoring, the whale address Ci8jH5 withdrew 20,000 SOL (worth approximately $4.1 million at the time) from Kraken 5 months ago and staked it, during which time it earned a total of 466 SOL (approximately $62,400) in staking rewards.
However, due to the drop in SOL price, its current holdings of 20,466 SOL are worth only about $2.83 million, resulting in an overall loss of about $1.27 million. One hour ago, the whale deposited all 20,466 SOL (about $2.83 million) back into Kraken.