Summary
- Whale investor 'CMJiHu' reportedly deposited 130,000 Solana (SOL) into multiple exchanges.
- A large-scale deposit into exchanges is interpreted as a signal that may increase the possibility of a short-term sell-off.
- Currently, Solana is trading at $208.5, up 4.89%.
A whale investor has deposited 130,000 Solana (SOL) into multiple exchanges.
According to Lookonchain on the 14th (local time), whale investor 'CMJiHu' deposited 130,000 SOL (worth approximately $26.45 million) into Binance, OKX, Bybit, and Gate.io.
Typically, the movement of such a large amount of cryptocurrency to exchanges can be interpreted as a signal indicating the possibility of short-term selling, attracting market attention. Meanwhile, Solana is currently on an upward trend, trading at $208.5 on CoinMarketCap, up 4.89% from the previous day.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
![[Analysis] "XRP risks repeating the 2022 rout…most short-term investors in the red"](https://media.bloomingbit.io/PROD/news/845f37bb-29b4-4bc5-9e10-8cafe305a92f.webp?w=250)
![[Exclusive] “Airdrops also taxable”... Authorities to adopt a ‘comprehensive approach’ to virtual assets](https://media.bloomingbit.io/PROD/news/4bde9dab-09bd-4214-a61e-f6dbf5aacdfb.webp?w=250)