• CoinStic
  • Posts
  • Crypto Whales Abruptly Move Over $186,000,000 in Ethereum Rival Solana – Here’s Where the Crypto Is Going

Crypto Whales Abruptly Move Over $186,000,000 in Ethereum Rival Solana – Here’s Where the Crypto Is Going

March 29, 2023

Crypto whales are suddenly on the move, relocating over nine million Solana (SOL) in a series of transactions.

Whale-watching bot Whale Alert spotted the flurry of transactions to the tune of 9,075,999 SOL worth more than $186.84 million.

Two of the largest transactions in the past day involves a crypto whale shifting a total of $86.29 million in SOL in two consecutive transactions.

The whale in question initially relocated 2,090,758 SOL worth $43.14 million from a wallet of unknown origin to crypto exchange Coinbase. In less than a minute, the same investor with deep pockets shifted 2,090,758 SOL worth $43.14 million from the same unknown wallet to Coinbase, where they could potentially be sold on the open market. 

Whale Alert also witnessed five transactions where SOL was moved from Coinbase to unknown wallets. Three transfers saw large entities shifting SOL from unknown wallets to Coinbase.

It costs virtually nothing to make multi-million-dollar transactions on Solana.

At time of writing, SOL is trading for $22.48.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Sergey Nivens