Solana (SOL) news

Whale Alert Flags Massive Solana Transactions Worth Nearly $163 Million

Whale Alert, a renowned cryptocurrency tracking tool that monitors significant crypto transactions and shares details with the community, detected three substantial transfers in Solana, amounting to nearly $163 million.

Solana Market Performance

Aside from the noteworthy transactions, two large chunks of SOL were exchanged without any trading venues specified. This coincided with the surge in Solana prices.

Discovering the source of the mentioned data, five substantial transfers were identified, with the largest carrying 449,724 SOL (valued at $60,008,944) and the second-largest involving 436,720 SOL (equivalent to $57,677,853). Both transfers occurred between anonymous cryptocurrency wallets, each holding tens of millions of US dollars’ worth of Solana.

Two other transfer operations were deposited, containing 167,189 SOL (valued at $22,241,902) and 93,446 SOL (equivalent to $12,322,070), on the largest US cryptocurrency exchange, Coinbase.

Finally, 81,173 SOL, valued at $10,819,672, was withdrawn from the same cryptocurrency trading platform. In total, nearly $163 million worth of Solana was moved within one hour, following the remarkable surge of the leading cryptocurrency, Bitcoin, earlier this week.

Staggering 36.74% Increase

From Monday of this week to today, SOL achieved a remarkable 36.74% increase, rising from $100.76 to $137.78. Solana exhibited volatile behavior today, initially decreasing by 4.22%, then rebounding, followed by another decline.

Read more Solana and Filecoin Integration: Paving the Way for a Decentralized and Resilient Blockchain Ecosystem”

Meanwhile, Bitcoin, the primary market driver, also halted its growth, losing 2.85% in the past 24 hours and trading at $61,474 at the time of publication.

Important Notice: Disclaimer Regarding Financial Advice
The information presented in this article is intended solely for informational purposes and should not be considered as financial advice. disclaims any responsibility for investment decisions made by individuals relying on the information provided herein. It is highly recommended to consult with a qualified professional or financial advisor before making any investment decisions. Your financial well-being is crucial, and seeking expert guidance ensures that your investment choices align with your individual financial goals and risk tolerance.

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