The SOL on exchanges is running out! Is something going to happen?
The balance of SOL on centralized exchanges has been like a roller coaster lately, dropping rapidly! From 37.22 million in March of this year, it has plummeted to 27.01 million now, a decrease of 27.4%! This number is almost catching up to the lowest point after the big drop in October 2022, when it fell to 26.7 million!
This is quite interesting. Generally speaking, the more coins are on exchanges, the more it indicates that people want to sell; if coins are being withdrawn, it’s likely a sign of long-term holding. In the case of SOL right now, it’s clear that people don’t want to sell, but instead want to hoard, perhaps anticipating something big for SOL’s future?
However, this isn’t necessarily all good news. If all the coins are withdrawn, liquidity on the exchanges will worsen, and if there is any slight disturbance, the price may fluctuate more drastically. Besides, in this market, no one can predict what tomorrow will bring; is this SOL activity the calm before the storm, or the charge of a new bull market? Let’s take our seats and watch closely!
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