**Over $560M in SOL Moved to New Wallets, Hinting at Long-Term Holding**
Whale Alert tracked over $560 million in Solana (SOL) transferred to new wallets, including a single transaction of 1.75M SOL ($252M). Three similar transfers of ~725,600 SOL ($105M each) followed within an hour. None of the receiving wallets had prior transaction history, suggesting new holders or internal reorganization.
Notably, the funds weren’t sent to exchanges, reducing sell-off fears and indicating long-term storage. The SOL price remained stable despite the large movements, trading at $144.71 (down 8.81% in 24 hours). A slight hourly uptick suggests buyers may be stepping in after the dip, but resistance near $148 could challenge recovery.
The market views these transfers as strategic rather than bearish, but traders remain cautious amid broader volatility.