Solana Whales Move $49.17 Million in SOL, Send $17.3 Million to Exchanges
Summary
- Solana (SOL) whale holders were reported to have moved 482,228 SOL worth about $49.17 million for a potential sale.
- Of that total, 171,430 SOL (about $17.3 million) has already been deposited to exchanges, a move interpreted as potential selling pressure.
- The remaining 310,798 SOL has not yet been confirmed as deposited to exchanges, meaning the amount that could reach the market will depend on any further transfers.
Forecast Trend Report by Period
Solana (SOL) whale holders appear to have moved tokens worth about $49.17 million in what may be preparation for a sale.
According to on-chain analytics firm Lookonchain on October 26, three wallets believed to be owned by the same whale investor moved a combined 482,228 SOL over the past three days. The tokens were worth about $49.17 million.
Lookonchain said the wallets appeared to have moved the Solana for sale. It has not confirmed whether all three wallets are controlled by the same owner.
Of that total, 171,430 SOL has already been deposited to cryptocurrency exchanges. That amounts to about $17.3 million, or roughly 35.6% of the total moved.
The remaining 310,798 SOL has not yet been confirmed as deposited to exchanges. Any additional transfers could affect how much supply ultimately reaches the market.
Large cryptocurrency deposits to exchanges are generally interpreted as a potential sell signal. Still, a deposit to an exchange does not mean a sale has been executed, and the final disposition of the tokens requires further confirmation.
