Despite $380 million worth of SOL tokens being transferred to Coinbase, Solana's price experiences a 5% increase. What will happen next in this market movement?

Quick Summary:

Notably, this move has sparked speculations over the potential impact of the transfers on the Solana price.  Meanwhile, the SOL price has maintained a positive momentum today, despite a retreat in other major crypto prices like Bitcoin, Ethereum, and others.

The Solana price has rallied nearly 5% today, despite a series of massive whale transfers to the Coinbase exchange today.

Similarly, an unidentified trader with the wallet address “Cb2Jq…8x3qQ” moved 298,000 SOL, totaling $46.34 million, to the same crypto exchange.

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Article Details

Author / Journalist: Rupam Roy

Category: Crypto

Markets: India

Topics: Solana (SOL) SOL price Solana Price Altcoin News 24/7 Cryptocurrency News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-05-07 @ 18:40:26 (1 weeks ago)

News Timezone: GMT +8:00

News Source URL: coingape.com

Language: English

Article Length: 440 words

Reading Time: 3 minutes read

Sentences: 38 lines

Sentence Length: 12 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinGape

News ID: 20904909

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About CoinGape

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