Solana (SOL) has resumed its upward momentum after a brief market correction, with massive on-chain movements hinting at renewed whale accumulation. According to data from Whale Alert, over $206 million worth of SOL exited Coinbase in just a few minutes, sparking renewed market optimism.
📊 Two Rapid Transfers – Over 1 Million SOL Moved Within Minutes
On July 21, Whale Alert reported two large and nearly identical Solana transactions. Together, they amounted to 1,079,999 SOL, processed in less than five minutes.
🔹 The first transaction involved 540,000 SOL, worth approximately $103.38 million, withdrawn from an unidentified wallet to an unknown destination outside of Coinbase.
🔹 The second transfer moved 539,999 SOL between two anonymous wallets—just one token short of the first. Analysts speculate it may have been a redistribution or internal reshuffle of assets already accumulated.
Given the precise timing and size of the transfers, it’s widely believed that a single entity, likely an institution or major investor, orchestrated both moves.
🚀 Is a New Bull Wave Forming for SOL?
These transfers coincided with a strong price rebound for Solana, which has re-entered a bullish trajectory. Over the last 24 hours, SOL posted an impressive 8.36% daily gain, ranking as the second-best performer among the top 10 cryptocurrencies by market cap.
At the time of writing, Solana is trading at $196.87, and many believe this surge is just the beginning of a larger market movement. Whales may be positioning themselves for a potential all-time high (ATH).
💬 What Does This Mean for the Market?
While it’s unclear if the transfers directly influenced the recent price movement, many view them as a strong bullish indicator. Historically, such large-scale activity often foreshadows long-term strategic buying ahead of further price appreciation.
Investor interest in Solana continues to grow—not only because of its speed and low fees, but also due to its expanding DeFi, NFT, and tokenization ecosystem.
🔹 Summary: Massive whale movements, paired with a sharp price rebound, suggest that Solana may be preparing for a new market surge. With confidence building and institutional interest rising, SOL could be on track for another breakout.
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