According to Lookonchain, a significant Solana whale deposited 49,858 SOL worth $8.46 million to Kraken, incurring a realized loss of $3.11 million compared to their original entry. Six months earlier, this whale withdrew 48,185 SOL ($11.58M) from Kraken at $240 each and staked the assets, earning 1,673 SOL ($286K) in staking rewards. Despite the staking yield, the whale's overall position suffered due to the recent price drop. This large-scale deposit to an exchange signals potential selling pressure, which could trigger short-term volatility or downward movement in SOL prices. Traders should monitor Kraken order books and overall exchange inflows, as whale movements often precede market reactions. The event underlines the risks and timing considerations in SOL staking and the broader Solana ecosystem. (Source: Lookonchain on Twitter, May 16, 2025)