A large fund movement has been detected in the Solana (SOL) market, drawing significant attention. The blockchain tracking platform Whale Alert captured a single transaction of 661,113 SOL (approximately 14.775 billion won) on June 3rd.
The transaction was sent from an unidentified wallet to another unconfirmed address, which has sparked considerable interest in the cryptocurrency community. Investors are expressing doubts about the background of this unusual large-scale transaction.
Market experts are raising concerns that this fund movement, coupled with recent funding rate declines, could be an attempt to sell. A funding rate decline is typically interpreted as an indicator of bullish investors leaving the market.
Despite this large-scale transaction news, the SOL price increased by 4.18% over 24 hours. Trading volume also increased by 22.84% compared to the previous day, reaching 3.592 billion dollars (approximately 4.9935 trillion won).
Some interpretations suggest that this fund movement could be a large-scale buying attempt. Generally, a simultaneous price increase and trading volume surge indicates strengthening buying pressure from investors.
Market participants are closely monitoring on-chain movements and taking full precautions for risk management in preparation for potential additional price fluctuations.
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