200K SOL Transferred to Coinbase
CryptoNewsTerminal Staff09 Aug, 2024
200K SOL Transferred to Coinbase
200,346 SOL, valued at $31.09 million, was transferred to Coinbase today at 11:25 PM, according to Whale Alert. The transaction was from an anonymous address. The reasons for the transfer are unknown. However, it could be a sign that investors are moving their SOL to exchanges in order to sell. This could put downward pressure on the price of SOL in the short term. It is also worth noting that this is not the first large SOL transfer in recent weeks. On March 14th, an anonymous address transferred 100,000 SOL to FTX. This suggests that there could be a trend of investors moving their SOL to exchanges.
