Lookonchain
Wallet 2MdNva accumulated large amounts of $SOL from multiple token creator wallets before sending them to Binance and OKX. Over the past 16 hours, the wallet deposited 299,838 $SOL, valued at $26M.
Why it matters
The transaction pattern links token creator wallets to a large exchange deposit, a flow investors may interpret as profit-taking or preparation to sell. The concentration of the activity in one wallet also makes the size of the potential supply overhang notable for Solana traders.
Market impact
Exchange deposits can create near-term selling pressure if the SOL is sold, but the transfers alone do not establish that a sale occurred. The next signal to watch is whether the exchange balances associated with 2MdNva are sold or moved elsewhere. For now, the $26M deposit adds a measurable bearish flow to the market narrative around $SOL.
Frequently asked questions
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How much SOL was deposited into exchanges?
Wallet 2MdNva deposited 299,838 $SOL into Binance and OKX over the past 16 hours, with the transfers valued at $26M.
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Where did the deposited SOL come from?
The wallet received large amounts of $SOL from multiple token creator wallets before transferring it to the exchanges.
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Does an exchange deposit confirm that SOL was sold?
No. The deposits show a potential supply overhang and near-term selling pressure, but they do not by themselves confirm that the SOL was sold.
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Why does the activity matter to Solana traders?
A $26M transfer into major exchanges can add supply to the market if buyers absorb it, making the flow relevant for near-term SOL price pressure.
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What would confirm whether the SOL was sold?
Further wallet activity showing exchange balances being sold or moved elsewhere would provide a clearer picture of whether the deposited SOL entered the market.
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