A mysterious wallet, possibly belonging to a big institution, has been selling off a ton of Solana (SOL) this year.
Solana Sell-Off
According to crypto tracker Lookonchain, this “whale” has sold almost $100 million worth of SOL since the start of 2024. That’s an average of about $2.7 million worth of SOL every week! Despite the selling, the whale still has a massive amount of SOL staked, worth over $237 million.
Other Big Moves
It’s not just Solana that’s seeing big moves. Lookonchain also spotted a huge Bitcoin (BTC) withdrawal from Binance, worth over $64 million. And, a long-time holder of Aave (AAVE) took a major loss by selling their entire stash, losing over $2 million.
What Does It Mean?
It’s hard to say for sure what these big moves mean for the crypto market. Some people think it could be a sign of a broader sell-off, while others believe it’s just normal market activity.
Important Note: This is just information, not financial advice. Always do your own research before investing in crypto!
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