Editor's PiCK
"Solana Whales Realize Profits and Return to Bitcoin... Impact of Trump Meme Coin Plunge"
Minseung Kang
Summary
- It was reported that whale investors holding large amounts of 'Solana' are moving to Bitcoin.
- It was stated that altcoins that surged after Trump's election are giving back their gains.
- It was added that the Solana-based meme coin market is rapidly declining and cooling down.
Analysis suggests that 'whale' investors holding large amounts of Solana (SOL) are selling their holdings and moving to Bitcoin (BTC).
On the 7th, cryptocurrency service provider Matrixport stated on X (formerly Twitter), "Altcoins that surged along with Bitcoin after Trump's election are now quickly giving back their gains," adding, "In particular, Solana whales seem to be realizing profits from the recent meme coin rally and returning to Bitcoin."
Matrixport added, "Large investors holding more than 100,000 Solana have significantly reduced their holdings over the past two months," and "As the Trump meme coin plummeted, the (Solana-based) meme coin market has sharply declined and is significantly cooling down."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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