Solana

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In a surprising turn of events, the Solana (SOL) cryptocurrency has witnessed massive whale movements, with notable transactions indicating significant profit-taking strategies. Lookonchain, a prominent blockchain analytics platform,&nbsp;<a href="https://x.com/lookonchain/status/1740334408589300071?s=20" rel="noopener noreferrer nofollow">shared insights</a> on a whale depositing and withdrawing substantial amounts of SOL on the Binance crypto exchange.
According to Lookonchain, a whale deposited a staggering 303,756 SOL, equivalent to $32.8 million, to Binance, raising speculation that the move was made with the intention of selling for profit. Over the past month, the same whale withdrew an impressive 423,754 SOL, valued at $28.18 million, from Binance at a rate of $66.5. Despite these withdrawals, the whale still has 119,998 SOL, amounting to $12.44 million, staked, resulting in a profit exceeding $17 million.
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 A whale deposited 303,756 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($32.8M) to <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> today, possibly selling it for profit.The whale withdrew 423,754 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($28.18M) at $66.5 from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> in the past 1 month.And still has 119,998 <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> ($12.44M) staked, the profit exceeding $17M!This whale also withdrew… <a href="https://t.co/Sptfj7uUIa" rel="noopener noreferrer nofollow">pic.twitter.com/Sptfj7uUIa</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1740334408589300071?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 28, 2023</a>
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Intriguingly, the whale also made a noteworthy transaction on Sept. 29, withdrawing 19,704 SOL, valued at $394,000, at a rate of $20 from Binance. Subsequently, on Nov. 8, the same SOL was deposited back into Binance at a rate of $43, resulting in a&nbsp;<a href="https://u.today/solana-winner-trader-makes-2570x-profit-with-just-30-sol" rel="noopener noreferrer nofollow">substantial profit</a> of $453,000, marking a significant increase of 115%.
<h2 dir="ltr" id="whale-movements-amid-correction">Whale movements amid correction</h2>
Whale Alert, a service that tracks large cryptocurrency transactions, also reported on a&nbsp;<a href="https://x.com/whale_alert/status/1740322905139896414?s=20" rel="noopener noreferrer nofollow">substantial movement</a> on the Solana network. A colossal transfer of 600,000 SOL, equivalent to a staggering $63.47 million, was made from an unknown wallet to another unknown wallet, adding an air of mystery to the already intriguing series of transactions.
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 🚨 🚨 🚨 600,000 <a href="https://twitter.com/hashtag/SOL?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#SOL</a> (63,472,615 USD) transferred from unknown wallet to unknown new wallet<a href="https://t.co/EncXKwLJ9R" rel="noopener noreferrer nofollow">https://t.co/EncXKwLJ9R</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1740322905139896414?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 28, 2023</a>
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As of the latest available data, the current Solana (SOL) price stands at $102.15. Although the cryptocurrency has experienced a recent dip of 8.99% in the last 24 hours, it has shown an impressive overall uptrend of 82.55% in the last 30 days. As previously reported by U.Today, following a remarkable performance in December, it appears that Solana bears have come into play, triggering an&nbsp;<a href="https://u.today/solana-sol-seeing-unimaginable-correction" rel="noopener noreferrer nofollow">unforeseen correction</a>.
Overall, the series of whale movements and the latest price trend have sparked intense speculation within the Solana community. Analysts are closely monitoring these developments to gain insights into the broader trends shaping the SOL market and to understand the motivations behind these substantial whale transactions.

Massive Solana (SOL) Whale Movements Amid 80% Monthly Price Upswing

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