• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Wednesday, June 4, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Solana Faces Notable Downturn After CEX Whale Movements Following Impressive Rally

Will Izuchukwu by Will Izuchukwu
December 28, 2023
in News
Reading Time: 2 mins read
0
Share on TwitterShare on Facebook

In an unexpected turn of events on Thursday morning, Solana (SOL), a standout performer in 2023, experienced a surprising 8% decline. This cryptocurrency, which has been among the top gainers throughout the year, has now become the subject of heightened speculation within the crypto community. 

Analysts are debating whether this recent price adjustment is a routine correction or indicative of a more significant shift in the market.

Despite this recent dip, Solana showcased remarkable performance in 2023, commencing the year at $8.14 and achieving an extraordinary 917% increase. As of the latest update, Solana is maintaining an average price of $102, reflecting a spectacular surge in value during the month of December.

Massive Whale Solana Deposit On Binance

Insights from Lookonchain data reveal a noteworthy transaction involving a whale depositing 303,756 $SOL (equivalent to $32.8 million) into Binance today, potentially indicating a profit-taking move. Over the past month, this whale withdrew 423,754 $SOL (valued at $28.18 million) at $66.5 from Binance while still holding 119,998 $SOL ($12.44 million) staked, resulting in a profit exceeding $17 million.

A whale deposited 303,756 $SOL($32.8M) to #Binance today, possibly selling it for profit.

The whale withdrew 423,754 $SOL($28.18M) at $66.5 from #Binance in the past 1 month.

And still has 119,998 $SOL ($12.44M) staked, the profit exceeding $17M!

This whale also withdrew… pic.twitter.com/Sptfj7uUIa

— Lookonchain (@lookonchain) December 28, 2023

Further examination of the whale’s activity shows a strategic move involving the withdrawal of 19,704 $SOL (worth $394,000) at $20 from Binance on September 29. Subsequently, the funds were deposited back into Binance at $43 on November 8, yielding a profit of $453,000 (a significant increase of 115%).

The recent market dynamics surrounding Solana underscore the intricacies of crypto investments and the role of influential players in shaping price movements. As the crypto community closely monitors these developments, the debate over the nature of Solana’s recent decline adds an additional layer of complexity to the broader cryptocurrency narrative.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any projects.

Follow us on Twitter @thevrsoldier to stay updated with the latest Crypto, NFT, and Metaverse news!

Image Source: valedol/123RF // Image Effects by Colorcinch

Tags: AltcoinAltcoinsCryptocryptocurrencyexchangeSOLsolanaTrading
Previous Post

Smart Investors Capitalize On Ethereum’s $ETH Bullish Surge

Next Post

Are Decentraland (MANA) and Everlodge (ELDG) good options against a Bitcoin (BTC) downturn

Related Posts

bitcoin btc
Featured

K33 Begins Bitcoin Buying with 10 BTC Purchase for Treasury Strategy

June 3, 2025
Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

June 2, 2025
Cardano Tanks 50% From Highs—Hope or Hype Ahead
News

Cardano Tanks 50% From Highs—Hope or Hype Ahead

June 1, 2025
Solana Price Prediction:Is the $200 Dream Dead
News

Solana Price Prediction:Is the $200 Dream Dead?

May 31, 2025
Featured

Netflix Casts Leads for FTX Drama

May 30, 2025
Featured

Trump’s Meme Coin Dinner Under Investigation

May 29, 2025

Press Releases

Binance Beats SEC—Crypto Cheers the Legal Victory
News

Binance Beats SEC—Crypto Cheers the Legal Victory

by Alex Mercer
June 2, 2025

Introduction From courtroom drama to crypto karma, Binance is having a moment. The SEC has officially pulled the plug on...

Read more
Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

May 25, 2025
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
Ethereum Climbs While PEPE Reloads—Who's About to Explode

Ethereum Climbs While PEPE Reloads—Who’s About to Explode?

May 18, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier