Whale Cryptocurrency Sells XRP, ETH to Make a Profit of $7.5 Million, Remains Optimistic About Solana

A major cryptocurrency investor has chosen to liquidate positions in XRP and Ethereum, pocketing $7.5 million in profits. This move comes after a broader market correction, indicating a shift in strategy among some of the largest firms in the industry. This decision is a sign of caution from the investor amid a volatile market.

Whales maintain Solana position Although the whale has closed positions on XRP and Ethereum, he still holds a long position in Solana worth $15.4 million, down $560,000. This indicates that, despite scaling down on XRP and Ethereum, the investor is still active in other parts of the market, continuing to trade even as prices fluctuate. According to the Coinglass analysis platform, futures market activity has increased as open interest reached $6.81 billion. This is an increase of 1.12% compared to 24 hours ago. The rise in open interest indicates that traders remain optimistic about the market.

As of the time the press reported, Ethereum is trading at $2,469, indicating a decrease of 2.15% in the past day. However, Ethereum has recorded a significant weekly increase of 39.75%, with the rise coming from network upgrades and continuous demand for staking ETH. Nevertheless, despite the strong upward trend, whales have chosen to reduce their Ethereum positions, potentially ensuring profits ahead of a possible market correction. As of the time the press reported, XRP is trading at $2.52, with a price increase of 4.32% in the past 24 hours. Over the past week, this cryptocurrency has risen by 20.75%, indicating a growing confidence among investors. Recent price movements suggest a potential shift in market sentiment, with XRP showing strong upward momentum.

On-chain data shows that the funding rate of XRP remains positive, signaling increasing market confidence. Meanwhile, futures market activity has intensified, with open interest rising to $5.57 billion, up 15.19% in the past 24 hours, indicating continued optimistic sentiment among traders. Despite the broader market correction, many investors have maintained their positions, suggesting a cautious repositioning phase as key players adjust their portfolios in anticipation of future growth.