Altcoin
Solana Price Drop Ahead? Whales Make Big Movements
Solana News: Solana (SOL) price managed to backtrack the recovery after witnessing heavy dumping in December end. Solana’s price went on trade in the single digit at the time. However, SOL has seen a massive surge since then. Its price jumped by a whopping 76% over the past 60 days. Meanwhile, it looks like crypto whales have some other plans.
Solana Price To Drop Ahead?
As per data provided by WhaleAlert, crypto whales have been caught making some major transactions across the exchanges. Whales have moved more than 15 million SOL tokens (approx worth $328 million) in the last 24 hours.
Whales went on moving 14.4 million Solana tokens (approx worth $310 million) to Coinbase, a crypto exchange in multiple transactions. However, the single largest transaction recorded by the tracker has been on moving 2.07 million SOL (approx worth $44.7 million).
The whale went on to move another 2.04 million SOL (approx worth $44.03 million) to the same exchange. The tracker reported three other transactions of moving 1.81 million Solana each (approx worth $117.5 million).
Solana price have presented a surge of 117% on the basis of Year To Date (YTD). Meanwhile, whales moving $310 million worth of the Solana tokens to a crypto exchange suggests that a Solana price drop ahead. However, SOL printed red indexes over the past 30 days as it registered a decline of 6%.
The whale tracker reported that an unknown address accumulated around 922K Solana (approx worth $20.2 million) amid the recent price surge. On the market side, Solana price have surged by 3% over the last 24 hours. SOL is trading at an average price of $21.58, at the press time.
Its 24 hour trading volume has spiked by 42% to stand at $826 million. While it is still holding a market cap of $8.1 billion.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
