Overview

Click to expand overview
A cluster of massive Solana whale wallets has transferred over $60 million worth of $SOL to the Nasdaq-listed cryptocurrency exchange Coinbase in a series of transactions that suggests the Over $158 million worth of Solana (SOL) was moved to Coinbase, one of the most well-known cryptocurrency exchanges, in an unanticipated burst of activity. Whale Alert In the latest transaction, an unidentified whale, denoted by the wallet address “6EW44.EU1WC,” transferred 298,000 SOL, valued at approximately $46.24 million, to Solana transfers $61.8 million to Coinbase in rapid succession, possibly orchestrated by a single entity. The large-scale transfers spark speculation about institutional investment and Solana’s prospects. SOL dropped by 1.32%, pulling the price lower to $20.46. On Febru, at EST, a significant transfer of 2.243 million Solana (SOL) tokens, valued at approximately $324.62 million, was moved from Stake Accounts to A handful of cryptocurrency whales have simultaneously transferred millions of dollars’ worth of Solana (SOL) to the Coinbase exchange this month. Whale Alert dished out

Solana (SOL) Whales Move Over $60 Million to Coinbase: What's Happening? A cluster of massive Solana whale wallets has transferred over $60 million worth of $SOL to the Nasdaq-listed cryptocurrency exchange Coinbase in a series of transactions that suggests potentially significant market shifts. This follows an unanticipated burst of activity where Over $158 million worth of Solana (SOL) was moved to Coinbase, one of the most well-known cryptocurrency exchanges. The latest transaction, as noted by Whale Alert, involved an unidentified whale, denoted by the wallet address “6EW44.EU1WC,” transferring 298,000 SOL, valued at approximately $46.24 million. In separate Solana transfers, a further $61.8 million was moved to Coinbase in rapid succession, possibly orchestrated by a single entity.

Why the Sudden Solana (SOL) Transfer to Coinbase? The large-scale transfers spark speculation about institutional investment and Solana’s prospects. Could this be a precursor to a large sell-off, or is it a strategic move by institutional investors preparing for future positions in Solana? A handful of cryptocurrency whales have simultaneously transferred millions of dollars’ worth of Solana (SOL) to the Coinbase exchange this month, fueling further debate within the crypto community. As Whale Alert dished out, these large SOL movements are being closely monitored.

Solana Price Impact: SOL Drops After Transfers. Following the news of these significant SOL transfers, the market reacted. SOL dropped by 1.32%, pulling the price lower to $20.46. While a relatively small dip, it highlights the potential volatility associated with large whale movements in the cryptocurrency market. The timing of these transfers, including a significant transfer of 2.243 million Solana (SOL) tokens, valued at approximately $324.62 million, moved from Stake Accounts on Febru at EST, raises questions about long-term holding strategies versus potential trading activity. Investors are watching closely to see if this trend continues and the ultimate impact on Solana's price and market position.

Top Sources

Related Articles