Solana (SOL) has recently demonstrated significant profit potential on Binance, attracting attention from both institutional and retail investors.
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š Whale Profits on Binance
A notable example involves a crypto whale who, in November 2023, withdrew 200,000 SOL (valued at $8.6 million) from Binance and staked it. By November 2024, the whale had unstaked 120,000 SOL, worth approximately $22.2 million, and deposited it back to Binance. As of early 2025, the whale's remaining holdings were valued at over $13.5 million, culminating in a total profit exceeding $27 million.
Another instance saw a whale transferring 92,751 SOL to Binance, realizing a profit of $3.3 million.
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š Market Momentum and Political Influence
SOL's price experienced a surge following its inclusion in the U.S. Crypto Reserve, as announced by former President Donald Trump in March 2025. This endorsement propelled SOL's price from $140 to over $178, with its market capitalization reaching $90.3 billion.
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š§ Trading Strategies on Binance
Binance offers various avenues to capitalize on SOL's volatility:
Spot Trading: Direct buying and selling of SOL tokens.
Futures Contracts: Trade SOL futures with up to 50x leverage, allowing for potential profits in both rising and falling markets.
Staking: Participate in staking through Binance Staked SOL (BNSOL), which has a circulating supply of 8 million coins and reached an all-time high price of $274.88 in January 2025.
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ā ļø Considerations
While the profit potential is substantial, it's essential to be aware of the risks:
Market Volatility: Cryptocurrency prices can fluctuate rapidly, leading to potential losses.
Leverage Risks: High leverage in futures trading can amplify both gains and losses.
Regulatory Changes: Political decisions and regulatory shifts can impact market dynamics.