$206 Million SOL in Minutes, What’s Happening?

Key Points

1. 1,079,999 SOL (worth $206.7 million) was moved in two transactions on July 21, one from Coinbase and another between unknown wallets.

2. The first transfer involved 540,000 SOL ($103.4 million) withdrawn from Coinbase by an unknown address.

3. The second transfer involved 539,999 SOL moved between two unknown wallets, possibly indicating redistribution or internal reshuffling.

4. These transactions occurred as SOL's price saw an 8.36% increase in 24 hours, trading at $196.87 at the time of reporting.

5. Large withdrawals from exchanges like Coinbase are often linked to institutional or high-profile investor activity.