Two whale addresses deposit 54.23 million dollars worth of Solana (SOL)...concerns over selling pressure

JH Kim

Summary

According to on-chain analytics firm Lookonchain, two whale addresses deposited approximately 54.23 million dollars worth of Solana (SOL) to exchanges.
The deposit totaled 277,000 SOL, and was noted as a large-scale asset movement.
On-chain data indicates that large exchange deposits are generally interpreted as a signal that increases the likelihood of selling, raising concerns about short-term price volatility.

On the 26th (local time), according to on-chain analytics firm Lookonchain, two whale addresses deposited a total of 277,000 Solana (SOL) to exchanges over the past 3 hours. This amounts to approximately 54.23 million dollars (about 74 billion won).

On-chain data suggests large exchange deposits are generally interpreted as a signal that increases the likelihood of selling, raising concerns about short-term price volatility.