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<p>Solana (SOL) has been on the runr lately, with the price surging over 35% this week to trade above $200 for the first time since 2021. The recent rally has propelled SOL close to its all-time high of around $258 set in that year.</p>
<p>However, on-chain data suggests that a massive SOL whale may be preparing to take profits off the table. According to blockchain data analytics firm SpotOnChain, a whale with the address “BU6N2Z68JPXLf247iYnHUTUv1B7p8AFWGTYkcjfeSwY8” deposited a staggering 200,000 SOL (worth around $40.5 million at $202.5 per SOL) to cryptocurrency exchange Binance in the past 8 hours.</p>
<p>The deposits were executed across two transactions:</p>
<ol>
 <li>KUCTDpRUUwD2t8CDTMtLiHo7wGxEfYoWEqRZfCxD3289BVfS14GkzPqJdQAE48mAWBrY4kZMHcLiTqkZP3rGVuf</li>
 <li>5eDyCK1c45Ddy5XieQbefXDZw6ct74QTftDFmoCgk6iviEcWgRjxymwbP9aW2Xa7UpTvx5ssHJZTwjWrCR39CJCj</li>
</ol>
<p>This massive deposit to a centralized exchange like Binance is often viewed as a precursor to a potential sell-off, as whales typically move funds to exchanges when they intend to liquidate their holdings.</p>
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<p><a href="https://platform.spotonchain.com/en/signal-details/massive-whale-deposited-sol-to-binance-amid-price-surge-61485" target="_blank" rel="noopener noreferrer nofollow">According</a> to SpotOnChain, the same whale has deposited a total of 300,000 SOL (around $60.1 million at an average price of $200.3 per SOL) to Binance over the past two days. The data further reveals that the whale currently holds 1.52 million SOL (worth approximately $305 million), with 287,129 SOL (around $57.7 million) stored in a wallet that may be deposited to a centralized exchange soon.</p>
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<p>The timing of these whale movements is particularly noteworthy, as it suggests the massive holder may not want to wait for SOL to hit new all-time highs before taking profits. With SOL’s market capitalization surpassing that of BNB today, the Solana ecosystem has undoubtedly been garnering significant attention from investors and traders alike.</p>
<p>While whale activity does not necessarily dictate market movements, such large-scale deposits to exchanges have historically preceded major sell-offs or increased volatility in the cryptocurrency markets.</p>
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<p>The post <a href="https://captainaltcoin.com/massive-solana-whale-doesnt-want-to-wait-for-sol-price-to-hit-ath-prepares-for-sell-off/" rel="noopener noreferrer nofollow">Massive Solana Whale Doesn’t Want to Wait for SOL Price to Hit ATH, Prepares for Sell-Off</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Massive Solana Whale Doesn’t Want to Wait for SOL Price to Hit ATH, Prepares for Sell-Off

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