#Whale dumps SOL, makes millions in profit#

Recently, there have been reports that the whale 7qw9C...NbSZL may be reducing its holdings of SOL, which it accumulated 8 months ago. Eight hours ago, it deposited 50,227 SOL, worth about $9.4 million, into Kraken. If the whale chooses to sell these SOL, it is estimated to make a profit of $1.227 million. It is understood that the whale withdrew 86,777 SOL from Kraken and Coinbase between June and July 2024 at an average price of $162.72, and has deposited 81,227 SOL into exchanges over the past three weeks, with a total profit of $2.326 million. This event has raised concerns in the market about the price trend of SOL. Some analysts believe that the whale's reduction in holdings could lead to a decline in the price of SOL, while others believe that the whale's reduction in holdings may be for profit-taking and will not have a significant impact on the price of SOL. At present, the price trend of SOL still needs to be observed, but this event has undoubtedly added a touch of uncertainty to the market.