A prominent cryptocurrency whale recently transacted a substantial amount of Solana (SOL) coins through the Kraken exchange. Blockchain data analysis firm Onchain Lens reveals this new wallet withdrew 1.77 million SOL, worth around $223 million at current prices. The whale then immediately staked all those coins. This action could yield significant rewards based on Solana’s staking mechanisms. Assuming stable SOL pricing, this whale could earn up to $17 million in rewards per year through the native staking model or potentially $23 million using a liquid retaking model. However, despite the potential for lucrative staking rewards, it’s important to note that this whale might still experience losses in USD terms after staking due to Solana’s current price drop of approximately 36% compared to last year. This is not investment advice.