28-7-2025 – Major investors have withdrawn over $23 million in Solana (SOL) from exchanges within the past 24 hours, signaling strong accumulation, according to on-chain data shared by Lookonchain.
Notable moves include a wallet, 7VbjYZ, pulling 58,700 SOL ($11 million) from Binance 16 hours ago, while others like BnwZvG and 2AbHLS moved 38,000 SOL ($7.3 million) and 14,569 SOL ($2.8 million) respectively, also from Binance, in recent hours. The activity reflects growing confidence in SOL, which trades around $191, buoyed by its high-speed blockchain and increasing DeFi adoption. The withdrawals, tracked via blockchain analytics, suggest whales are positioning for potential price appreciation, a trend often preceding market rallies.
Some whales are buying $SOL.
7VbjYZ withdrew 58,700 $SOL($11M) from #Binance 16 hours ago.
BnwZvG withdrew 38,000 $SOL($7.3M) from #Binance in the past 5 hours.
2AbHLS withdrew 14,569 $SOL($2.8M) from #Binance 2 hours ago.
KMhcqN withdrew 12,000 $SOL($2.25M) from #Kraken 14… pic.twitter.com/nRHhvAXbte
— Lookonchain (@lookonchain) July 28, 2025
A separate withdrawal of 12,000 SOL ($2.25 million) from Kraken by wallet KMhcqN further underscores the coordinated buying spree. This accumulation aligns with Solana’s ecosystem growth, including a robust NFT market and rising total value locked (TVL) in its DeFi sector. However, such large off-exchange movements can also heighten volatility if these holdings are later sold.
