#Whale dumps SOL#

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Overview

Recently, a whale has been suspected of reducing its holdings of SOL accumulated eight months ago. The whale, 7qw9C...NbSZL, deposited 50,227 SOL, worth approximately $9.4 million, into the Kraken exchange eight hours ago. If sold, it would generate a profit of $1.227 million. Previously, the whale withdrew 86,777 SOL from Kraken and Coinbase between June and July 2024, at an average price of $162.72. In the past three weeks, the whale has deposited 81,227 SOL into exchanges, accumulating a total profit of $2.326 million.

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Analysis

Recently, a whale has been suspected of reducing its holdings of SOL, which it had accumulated 8 months ago. This whale address, 7qw9C...NbSZL, deposited 50,227 SOL, worth approximately $9.4 million, to the Kraken exchange 8 hours ago. If the whale sells these SOL, it is expected to profit by $1.227 million. It is understood that this whale withdrew 86,777 SOL from Kraken and Coinbase between June and July 2024 at an average price of $162.72. In the past three weeks, the whale has deposited 81,227 SOL into the exchange, generating a total profit of $2.326 million. This move has raised market concerns about the price trend of SOL, and some analysts believe that the whale's reduction of holdings could foreshadow a correction in the SOL price.

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Whale reducing SOL holdings may lead to price drop

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Whale reducing SOL holdings may be for profit taking

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Whale reducing SOL holdings may be for cashing out

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Whale reducing SOL holdings may be due to bearish outlook on SOL's future

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