Solana (SOL) Whales Shift 2.5 Million Coins: Details

Solana, the fifth-largest cryptocurrency by market cap, has experienced a downtrend following large SOL transfers by unidentified whales in the last 24 hours.

Solana Price Drops After Large SOL Transfers by Whales; BTC, ETH See Price Corrections

Solana (SOL) price observed a downtrend on Monday following large transfers of over 2.5 million SOL coins by unidentified entities, as per recent reports.

These transactions, notably two, involved at least 1 million SOL each, as recorded within the last 24 hours. The first transaction entailed the movement of 1,519,488 Solana coins, valued at $224.6 million, from a wallet labeled ‘unknown’ to another unidentified wallet. Soon after, another transaction carried exactly 1,000,000 SOL coins from an anonymous wallet to another unknown wallet.

Collectively, the two transactions shifted $372.4 million worth of SOL in less than one hour. This sudden transfer, especially at a time when the crypto market is experiencing mixed (neutral) sentiment, has raised concerns among investors.

However, it is important to note that transactions of this magnitude do not always signify sell-offs, but can be attributed to several scenarios. These may include accumulation for long-term holding, asset repositioning by institutional investors, or even an internal wallet restructure by large investors (commonly known as whales). While the exact reason is still unknown, it has added to the layer of worries exhibited by market participants.

Solana (SOL) Price Movement

Over the last 24 hours, the price of Solana (SOL) has decreased significantly. According to CoinMarketCap data, SOL is currently changing hands at $140.37, representing a 5.50% decline at press time.

Moreover, the activities surrounding the coin, as portrayed in its 24-hour trading volume, have also dipped by 10.33% to $2.20 billion, signifying reduced activities among traders.

Importantly, SOL has traded between the lows and highs of $140.81 and $148.73 in the last 24 hours, which is still 45.6% below its all-time high of $259.96 reached on November 2021. In hindsight, SOL has dropped by 10.08% in the last seven days, and by 1.99% over the last month.

Solana (SOL) Price Chart - 24 Hourの時間足で見たSolana (SOL)価格チャート

Solana Price Drops After Large SOL Transfers by Whales; BTC, ETH See Price Corrections

Solana (SOL) price observed a downtrend on Monday following large transfers of over 2.5 million SOL coins by unidentified entities, as per recent reports.

These transactions, notably two, involved at least 1 million SOL each, as recorded within the last 24 hours. The first transaction entailed the movement of 1,519,488 Solana coins, valued at $224.6 million, from a wallet labeled ‘unknown’ to another unidentified wallet. Soon after, another transaction carried exactly 1,000,000 SOL coins from an anonymous wallet to another unknown wallet.

Collectively, the two transactions shifted $372.4 million worth of SOL in less than one hour. This sudden transfer, especially at a time when the crypto market is experiencing mixed (neutral) sentiment, has raised concerns among investors.

However, it is important to note that transactions of this magnitude do not always signify sell-offs, but can be attributed to several scenarios. These may include accumulation for long-term holding, asset repositioning by institutional investors, or even an internal wallet restructure by large investors (commonly known as whales). While the exact reason is still unknown, it has added to the layer of worries exhibited by market participants.

Solana (SOL) Price Movement

Over the last 24 hours, the price of Solana (SOL) has decreased significantly. According to CoinMarketCap data, SOL is currently changing hands at $140.37, representing a 5.50% decline at press time.

Moreover, the activities surrounding the coin, as portrayed in its 24-hour trading volume, have also dipped by 10.33% to $2.20 billion, signifying reduced activities among traders.

Importantly, SOL has traded between the lows and highs of $140.81 and $148.73 in the last 224 hours, which is still 45.6% below its all-time high of $259.96 reached on November 2021. In hindsight, SOL has dropped by 10.08% in the last seven days, and by 1.99% over the last month.

News source：https://www.kdj.com/cryptocurrencies-news/articles/solana-sol-whales-shift-coins-details.html

The above is the detailed content of Solana (SOL) Whales Shift 2.5 Million Coins: Details. For more information, please follow other related articles on the PHP Chinese website!