Whale unstakes 340,510 SOL worth $51.18M
300,000 SOL sent to Kraken exchange
Move may signal upcoming sell or market shift
Whale Unstakes $51M in Solana After Long Hold
A major Solana (SOL) whale has just unstaked 340,510 SOL, valued at approximately $51.18 million, after keeping the tokens locked for five months. In a move that has caught the attention of traders and analysts, 300,000 SOL were immediately transferred to crypto exchange Kraken, suggesting a possible intent to sell.
Large transactions like this often spark speculation about broader market sentiment and potential price impacts, especially when they involve substantial amounts of liquidity being moved onto exchanges.
Market Braces for Possible Sell-Off
While the whale’s exact intentions remain unclear, depositing a large sum to an exchange is frequently interpreted as a bearish signal, as it may indicate a pending sale. Such a move could create short-term downward pressure on the SOL price, particularly if the market lacks sufficient buying momentum.
This development comes at a time when Solana has been enjoying growing DeFi activity and NFT interest. However, significant whale actions like this can influence retail sentiment and potentially trigger volatility.
LATEST: Whale unstakes 340,510 $SOL ($51.18M) after 5 months and sends 300,000 $SOL to Kraken.
$6.64M in SOL remains. pic.twitter.com/rSQQUZSMVO
— Cointelegraph (@Cointelegraph) May 2, 2025
Why This Move Matters
Whale behavior is closely watched in crypto because it can influence market trends and signal shifts in investor confidence. With SOL currently viewed as one of the strongest Ethereum alternatives, any large moves by top holders can sway short-term dynamics.
Traders should keep an eye on exchange inflows and SOL price movement over the coming days, as more data unfolds on whether this is part of a strategic reallocation — or a major sell-off in progress.
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The post Whale Moves $51M in SOL to Kraken appeared first on CoinoMedia.
