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Huge $19 Million Solana (SOL) Transfer Sparks Dumping Fears

Published 27/11/2023, 14:53
Huge $19 Million Solana (SOL) Transfer Sparks Dumping Fears
SOL/USD
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Coin Edition -

  • Earlier today, a whale transferred SOL tokens worth over $19 million from an unknown wallet to Coinbase (NASDAQ:COIN).
  • At press time, SOL was worth $56.46 after its price dropped by over 3% in the past 24 hours.
  • On-chain data revealed that in November, Solana’s USDC transaction volume and TVL saw huge increases.

Dumping fears are spiking within the cryptocurrency community after a whale moved a huge amount of Solana (SOL) tokens to an exchange. The whale tracking platform Whale Alert posted on X this morning that 336,999 SOL was transferred from an unknown wallet to Coinbase. The transferred tokens were worth about $19,100,615.

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