Whale investors withdraw $80.7 million worth of Solana… "Suggests accumulation"

Son Min

Summary

Claims have emerged that whale investors are accumulating Solana (SOL).
It said two whale wallets withdrew 376,076 SOL, about $80.7 million, from Binance.
Generally, increased withdrawals from cryptocurrency exchanges are known to raise the likelihood of the respective coin rising.

Claims have emerged that whale investors are accumulating Solana (SOL).

On the 9th (local time), Lookonchain said on X (formerly Twitter), "Whale investors are accumulating Solana," and announced that "two whale wallets withdrew 376,076 SOL from Binance in the past 24 hours." This amounts to about $80.7 million.

Generally, the more of a particular coin that is withdrawn from a cryptocurrency exchange, the more likely that coin is to rise.

SOL