Sol Price Drops As Whale Moves 200,000 SOL
Large transfer of 200,000 SOL to Binance stirs sell-off rumors; SOL price dips but trading surges, hinting at market recovery potential.
The crypto community has been shaken by a huge transfer of Solana (SOL) tokens to Binance, involving around 200,000 SOL worth over $10 million. The action fueled speculation of a likely sell-off, causing SOL's price to fall by 1.89% in the last 24 hours.
A 'crypto whale' transferred about 200,000 SOL tokens to Binance, sparking rumors about a large-scale sell-off. This transfer occurred simultaneously as SOL's price dropped to $54.83, fuelling market speculation.
even with this decline, Solana's trading volume shot above $2.5 billion, signaling significant market activity. The BIT exchange announced intentions to launch Solana options trading, suggesting increased institutional interest in SOL and potentially reducing the effects of a sell-off.
SOL price went below a critical support level of $56.95, sparking fears of a further decline. SOL could fall as low as $47.60 if it does not recover above this level shortly. On the other hand, a return above $56.95 could mean a short-term rise towards $68.85, providing hope for a recovery.
