SOL whales are actively transferring large amounts of SOL to exchanges, indicating strong trading activity recently.
According to monitoring data from Lookonchain, SOL whale addresses have conducted multiple SOL deposits worth millions of USD into major exchanges like Kraken and Binance, reflecting trading trends and profit-making opportunities in the cryptocurrency market.
MAIN CONTENT
SOL whales frequently transfer large amounts of SOL to the exchanges.
Trading on Kraken and Binance with values of tens of millions of USD.
For example, earning 1.63 million USD from SOL deposits at Binance.
What large amounts of SOL have whales transferred to exchanges?
Lookonchain reports that many SOL whales have sent large amounts of SOL to major exchanges, potentially leading to strong trading activity.
For example, the address CMJiHu transferred 96,996 SOL (approximately 17.45 million USD), 5PjMxa deposited 91,890 SOL (15.98 million USD) into Kraken, while HiN7sS sent 37,658 SOL (6.73 million USD) into Binance.
How much profit is made from the SOL deposits of SOL whales?
SOL whales have recorded significant profits from this activity, demonstrating trading effectiveness based on On-chain data.
In particular, the address HiN7sS earned 1.63 million USD in profit after sending SOL to Binance in just 8 hours, reflecting the speed and profit margins of whale trading.
This activity not only helps whales take advantage of market volatility but also provides important signals for retail investors tracking liquidity trends on the exchange.
Cryptocurrency analyst Ngọc Minh, 2024
How does the SOL transfer activity of whales affect the cryptocurrency market?
Transferring SOL on a large scale to exchanges often signals preparation for trades, which can impact market price and liquidity.
These deposits create short-term pressure or support, while also providing data to help On-chain analysts assess cash flow and market trends accurately.
Which prominent SOL whale wallets are currently notable?
Many prominent whale wallets have made large actions recently, such as CMJiHu, 5PjMxa, and HiN7sS with deposits of tens of millions of USD SOL into Kraken and Binance.
These wallets are often closely monitored on the On-chain platform due to their significant impact on SOL market volatility.
Frequently Asked Questions
What are SOL whales?
SOL whales are investors who hold large amounts of SOL, which can significantly impact this cryptocurrency market.
Why do whales transfer SOL to exchanges?
To execute sales, trades, or take advantage of profit opportunities when the market fluctuates.
How does large SOL transfer affect the price?
Can cause short-term volatility, increasing or decreasing prices depending on the buying and selling actions of whales.
How to monitor the activities of SOL whales?
Using On-chain monitoring tools like Lookonchain provides accurate data on whale transactions.
Do SOL whales guarantee profits for retail investors?
Profits are not guaranteed; investors need to be cautious and analyze the market thoroughly before participating.
Source: https://tintucbitcoin.com/solana-do-40-trieu-usd-vao-san/
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