NEWS 🚨🚨🚨- Solana (SOL), one of the top 10 altcoins in the crypto market, is known to have experienced a fairly sharp price decline lately.
Reporting from coingape.com, the main cause is the massive token withdrawal activity by whales.
Of course, this makes other investors wary of further price pressure in the near future.
Based on data reports from Lookonchain, a whale recently withdrew around 139,532 SOL tokens. Unsurprisingly, after the withdrawal, the price of Solana experienced a sharp decline from around US$ 161 to US$ 137.
Not only that, the next day the whale again transferred US$ 139,447 Solana tokens worth US$ 19.5 million to Binance. All these transactions occurred within 2 days, and resulted in a loss of US$$ 5.5 million.
Interestingly, the same whale also made another withdrawal on July 22, namely 138,894 SOL from Binance when the SOL price reached US$$ 180 per token. At that time, the withdrawal was worth US$$ 25 million, which does not seem to be directly related to the current SOL token valuation.
