Whales Move $40M+ in SOL to CEXs in 9 Hours
In the past nine hours, SOL whales have deposited more than $40 million worth of SOL into centralized exchanges (CEXs). Address CMJiHu sent 96,996 SOL (~$17.45M) nine hours ago. Three hours ago, address 5PjMxa moved 91,890 SOL (~$15.98M) to Kraken. Eight hours ago, address HiN7sS transferred 37,658 SOL (~$6.73M) to Binance, realizing $1.63M in profit. Such significant SOL CEX inflows suggest rising selling pressure and potential short‐term volatility. Traders should monitor exchange balances and price levels to gauge market sentiment.
Bearish
Large whale transfers of SOL to centralized exchanges typically signal upcoming sell orders and increased supply pressure. The recent $40M+ SOL inflows, including a $1.63M profit realization, mirror past events where heavy CEX deposits led to near‐term price declines. Short term, expect heightened volatility and potential dips. Long term impact may be neutral if Solana’s network fundamentals hold.