$SOL $TON $SUI #MarketDownturn
đą Major Solana (SOL) Move to Binance â What Are Whales Signaling? đ€đ€đ€
âŠïž Solana has been one of standout performers in cryptocurrency market of late.
Blockchain data tracker Whale Alert reported a large Solana transfer made to major crypto exchange Binance.
đ„In a tweet, Whale Alert reports that "154,912 SOL worth $23,928,285 was transferred from unknown wallet to Binance" with this action taking place some hours back.
đš 154,912 #SOL (23,928,285 USD) transferred from unknown wallet to #Binancehttps://t.co/xSvB9zu1LP â Whale Alert (@whale_alert) August 10, 2024 Whales, or large cryptocurrency holders, often move assets to exchanges when they intend to sell or trade them.
Thus, this substantial transfer has prompted attention as it coincides with a Solana price drop. At the time of writing, Solana's price was down 3.24% in the last 24 hours.
đ Solana price action Solana rallied strongly from lows of $109.99 on Aug. 5 after eight straight days of falls. The rebound was met with strong buying as Solana's price sharply rose on Aug. 6 and 8, respectively. The bounce, however, met resistance at $165, forcing the bulls to retreat slightly. At the time of writing, SOL was down 3.24% in the last 24 hours to $155 amid slight profit-taking. However, it remains 3% higher weekly.
