$89 Million in Solana (SOL) Dumped at Once, What Happened?
2025-07-07 22:05:33
Main Idea
A large transfer of 586,233 SOL (worth $88.9 million) to Coinbase by an unidentified whale has raised concerns about potential market volatility, though the motive behind the transfer remains unclear.
Key Points
1. On July 7, 2025, a whale transferred 586,233 SOL (worth $88,985,275) to Coinbase, sparking volatility concerns.
2. The reason for the large SOL transfer is unknown, with speculation including treasury restructuring, third-party custody, or institutional staking.
3. Solana's price showed mixed movement, trading at $150.32 at press time, with a 1% decline over the last day.
4. The transfer coincided with a 37% surge in SOL's trading volume, possibly linked to the large dump on Coinbase.
Description
Massive SOL transfer to Coinbase sparks volatility concerns
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