Lookonchain
Whale HoYd72 deposited 240,000 SOL, worth $25.3 million, into Binance, OKX and Bybit over the past 24 hours. The exchange transfers put a sizable potential source of selling pressure in view for Solana traders.
Why it matters
SOL deposited on exchanges can be positioned for sale, though the transfers alone do not confirm that the whale has sold. The scale and distribution of the deposits make HoYd72's next moves relevant to traders watching exchange flows.
Market impact
The deposits total $25.3 million across three exchanges. Whether that translates into sustained selling pressure depends on what happens to the SOL after it reaches the platforms.
Frequently asked questions
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How much SOL did HoYd72 deposit?
HoYd72 deposited 240,000 SOL, worth $25.3 million.
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Which exchanges received the SOL?
The deposits went to Binance, OKX and Bybit over the past 24 hours.
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Do the deposits confirm that HoYd72 sold SOL?
No. Exchange deposits can precede sales, but the transfers alone do not confirm that a sale took place.
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Why are traders watching the deposits?
SOL sent to exchanges can be positioned for sale, creating a potential source of selling pressure.
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What will indicate whether the deposits lead to selling pressure?
What happens to the SOL after it reaches Binance, OKX and Bybit will clarify whether the transfers translate into selling.
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