Solana Whale Activity Sparks Sell-Off, Signaling Shifts in the Cryptocurrency Market

Major cryptocurrency investors known as whales have been observed selling a significant portion of their Solana holdings, leading to a notable drop in SOL’s trading volume and sparking speculation about potential shifts in investor sentiment. Recent activity by these entities has shown them depositing over $40 million worth of SOL across various exchanges. This transaction flow, according to reports on social media platform X (@lookonchain), suggests a coordinated move to cash out from the recent 14% price surge of the token.