The well-known cryptocurrency tracker Whale Alert, which keeps tabs on significant transactions and disseminates information to the public, has observed three sizable SOL transfers in the last hour.
Apart from that, there were no trading venues engaged in the exchange of two large SOL pieces. This has happened in tandem with a rise in Solana prices.
https://x.com/whale_alert/status/1763581824125542431?s=20
Almost $163 million in Solana on the move
Five significant Solana transfers totaling tens of millions of US dollars in SOL equivalent were found by the previously stated data source. The two biggest ones have 449,724 SOL (worth $60,008,944) and 436,720 SOL (worth $57,677,853), respectively. These two SOL chunks were transferred between wallets that store anonymous cryptocurrency.
Two further payments totaling 167,189 SOL (valued $22,241,902) and 93,446 SOL (estimated at $12,322,070) were sent to Coinbase, the biggest cryptocurrency exchange in the United States.
Ultimately, $10,819,672 worth of 81,173 SOL were taken out of the same cryptocurrency trading platform. All told, in an hour, Solana valued at about $163 million was transferred.
https://x.com/whale_alert/status/1763585063466221783?s=20
Solana market performance
SOL has increased by an astounding 36.74% since Monday of this week, coinciding with the notable surge in the price of top cryptocurrency Bitcoin this week. SOL had erratic behaviour today after climbing from $100.76 to $137.78, first declining by 4.22% and then rising and falling once again. As of now, the overall drop is 4.77%.
Meanwhile, the primary driver of the market, Bitcoin, has also stopped rising; as of press time, it is trading at $61,474, down 2.85% from the previous day.
