A recent major deposit of Solana to centralized exchanges has drawn the attention of traders and analysts, indicating possible market volatility changes.
Transfer of 130,000 SOL to Exchanges
A major Solana whale, identified by the wallet address CMJiHu, recently transferred approximately 130,000 SOL, valued at over $26 million, to several centralized exchanges, including Bybit, Binance, OKX, and Gate.io. These actions suggest a potential intent to sell, possibly impacting the market.
Expected Short-Term Volatility in SOL Market
This move is likely to introduce short-term volatility in the SOL market, affecting trading pairs like SOL/USDT and SOL/BTC. Traders are closely monitoring price actions, as potential changes in market liquidity are expected, although no official comments from Solana's founders or major KOLs have been made.
Analysis of Possible SOL Price Correction
Historically, large Solana whale deposits have occasionally triggered short-term price corrections. Analysts suggest that actions from the CMJiHu wallet could prompt either panic selling or price stabilization, depending on the level of buying interest. Such events typically impact Layer 1 tokens, affecting major centralized exchanges.
Recent transactions by a major Solana whale highlight market activity and high volatility, which could be significant factors for traders and investors in the near future.
