- Over $23M in $SOL withdrawn by whales from exchanges
- Major activity seen on Binance and Kraken
- Accumulation hints at bullish sentiment for Solana
In a notable shift, large crypto wallets—commonly referred to as “whales”—have withdrawn over $23 million worth of Solana (SOL) from major exchanges in the past 24 hours. This sudden activity is sparking interest across the crypto community, with many interpreting it as a bullish signal for Solana.
According to on-chain data:
- 7VbjYZ pulled 58,700 SOL (worth $11M) from Binance
- BnwZvG withdrew 38,000 SOL ($7.3M), also from Binance
- 2AbHLS moved 14,569 SOL ($2.8M) out of Binance
- KMhcqN withdrew 12,000 SOL ($2.25M) from Kraken
This trend of large-scale withdrawals typically indicates that whales are planning to hold their tokens in private wallets rather than sell them on exchanges. That behavior often reflects strong confidence in the asset’s future price movement.
Why This Matters for Solana
Whale accumulation has historically been a reliable indicator of upcoming market trends. When big holders begin withdrawing assets from exchanges, it’s generally seen as a signal of accumulation rather than distribution.
Solana, already one of the leading altcoins in the market, has been enjoying positive momentum thanks to its strong developer ecosystem, rapid transaction speeds, and recent integrations in DeFi and NFTs. If this whale trend continues, it could mark the beginning of a stronger upward trajectory for $SOL.
Additionally, removing assets from exchanges reduces selling pressure, contributing to a more stable or upward price movement.
Looking Ahead
With more than 123,000 SOL moved off exchanges in a single day, Solana is drawing renewed attention. While this doesn’t guarantee a price spike, it adds to the bullish narrative surrounding the project.
Crypto investors should keep an eye on Solana’s chart activity, trading volume, and any future whale moves. If history is any guide, these large withdrawals could be the early signs of a larger rally.
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