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Whale Alert, the popular cryptocurrency tracker, which follows large crypto transactions and shares their details with the community, has noticed three hefty $SOL transfers made over the past hour.
Aside from that, two big $SOL chunks exchanged hands without any trading venues involved. This has coincided with a Solana price increase.
🚨 🚨 🚨 436,720 #$SOL (57,677,853 USD) transferred from unknown wallet to unknown wallethttps://t.co/QudI24vmnd
— Whale Alert (@whale_alert) March 1, 2024
Almost $163 million in Solana on the move
The aforementioned data source detected five large Solana transfers, each carrying tens of millions of US dollars in the $SOL equivalent. The largest ones carried 449,724 $SOL (valued at $60,008,944) and 436,720 $SOL (the equivalent of $57,677,853). These two $SOL chunks were moved between anonymous cryptocurrency wallets.
Two more transfers, which contained 167,189 $SOL (worth $22,241,902) and 93,446 $SOL (evaluated at $12,322,070), were deposited to the largest US-based cryptocurrency exchange Coinbase.
🚨 167,189 #$SOL (22,241,902 USD) transferred from unknown wallet to #Coinbasehttps://t.co/VJ42ml6rxe
— Whale Alert (@whale_alert) March 1, 2024
Finally, 81,173 $SOL worth $10,819,672 was withdrawn from the same crypto trading platform. Overall, almost $163 million worth of Solana has been moved within a single hour.
Solana market performance
From Monday this week until today, $SOL has put up a staggering 36.74% increase, following the tremendous rise of the flagship cryptocurrency Bitcoin this week. Having surged from $100.76 to the $137.78 price mark, $SOL demonstrated a volatile behavior today, first dropping by 4.22% and then rising and falling once again. The overall decline today comprises 4.77%.
In the meantime, the market’s main catalyst, Bitcoin, has also stopped growing – it has lost 2.85% within the last 24 hours and is trading at $61,474 at press time.