$161,023,918 in Solana (SOL) Moved Mysteriously as Price Falls Deeper
The post $161,023,918 in Solana (SOL) Moved Mysteriously as Price Falls Deeper appeared on BitcoinEthereumNews.com.
Nearly 1 million SOL moved What’s next for SOL? The crypto market is dumping, and whales have been spotted actively moving large amounts of tokens, fueling speculation among the crypto community. On-chain tracking platform Whale Alert has spotted another large crypto transfer involving substantial amounts of Solana on May 30. Nearly 1 million SOL moved According to the data source, the transfer saw a massive 999,998 SOL change hands among unknown wallets in a single transaction. Notably, this large transfer was worth about $161 million per SOL price at the time the transaction was executed. The tokens were transferred by an unidentified sender with the wallet “36ZYBfaz2,” which has not been active for the last six months, to a mysterious destination that appears to be consistent in trading tokens. Just as the identity of the parties behind this significant SOL movement remains unknown, the reason behind the transfer, which occurred amid the persisting market downturn, could not be ascertained either. Investors are particularly curious about large crypto transfers like this happening on a typically high-volatility day. What’s next for SOL? This massive transaction occurred when the broad crypto market was experiencing a massive downturn, with the price of leading cryptocurrencies crashing to previous lows. Following this negative trend, SOL has also traded bearishly in recent days, projecting a notable decline of about 6% over the last day. This has seen SOL give back recent gains, trading at $158 as of press time—a level it last reached on May 5. Source: CoinMarketCap Amid this massive price dip, SOL has seen its trading volume surge to $4.47 billion, a substantial increase of 36.53% over the last 24 hours. Usually, when a substantial increase in trading volume accompanies a significant downturn in a token’s value, it signals massive sell activity from holders. This…
Filed under: News - @ June 1, 2025 3:27 am