Galaxy Digital Don Deposit 935K SOL for Coinbase Wey Mean Say Dem Go Sell
Galaxy Digital don dey do big big SOL deposit operations, dem don move total 935,000 SOL (about $191 million) enter im Coinbase account since August 27. The latest one wey be 175,000 SOL (about $35.65 million) dem transfer am eight hours ago, na the fourth big SOL deposit so far. This big exchange inflow mean say Galaxy Digital dey prepare im Solana holdings for trading or to sell later. Big SOL deposits like this fit show say short-term sell pressure dey come, e fit affect Solana liquidity and price movement. Traders suppose dey watch Solana exchange inflows, order book, and price action to sabi early signs of distribution and market wahala.
Bearish
Di big big SOL deposit wey total reach 935,000 SOL over di pass week, include one recent 175,000 SOL transfer, dey show say Galaxy Digital dey prepare to distribute dem Solana holdings. Historically, large exchange inflows dey relate to increased sell-side pressure as traders dey offload positions, wey fit lead to short-term price drops. For di immediate term, dis fit weigh down SOL price and liquidity, especially if market absorb sudden increase for sell orders. For longer term, di impact depend on broader Solana network development and market demand; but di current deposit pattern dey indicate bearish sentiment wey dey driven by profit-taking or risk management.