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.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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