Galaxy Digital don unstake 250K SOL ($40.7M) and dem transfer am go Binance
Galaxy Digital wey be crypto asset manager don unstake 250,000 SOL tokens (wey be about $40.7 million) from Solana network dem move am go Binance, Lookonchain on-chain analytics platform talk so on August 6. Dis kain big unstake plus deposit for big exchange fit mean say Galaxy Digital dey reorganize their liquidity or dem dey plan to sell big part of their SOL holdings. For past time, when big SOL con enter exchange, e dey cause short-term selling pressure plus e dey make market shake. Traders suppose dey watch how money dey flow, order book data for Binance, plus the on-chain staking metrics if dem wan sabi how e fit affect market.
Bearish
Beta wey 250,000 SOL dey enter Binance mean say Galaxy Digital ready to increase liquidity or make dem comot big holdings. For history, large SOL deposit for centralized exchange dem usually dey happen before short-term sell spike and price go dey pressure down. Even though e fit be strategic rebalance, immediate market reaction fit dey bearish as traders go see the move as sign for possible sell orders. To monitor the next exchange flows and order-book changes go dey important to sabi how sentiment dey change.