Solana Price Soars As A Whale Move Half Million Tokens

Solana Price: The market is trading in green today as Bitcoin and other Altcoins are still seeing a jump today despite the collapse of three major U.S. banks last week. As of writing, Bitcoin price increased by over 17% in the last 24 hours and shoots past $26k. Ethereum price increased by 10%. 

Whales move coins

In a recent development in the crypto market, significant amounts of SOL and MATIC tokens were transferred between various wallets. According to blockchain data, an unknown wallet transferred 537,352 SOL tokens worth 10,743,976 USD to Coinbase, a popular crypto exchange.

Another notable transfer occurred when 11,983,053 MATIC tokens worth 14,104,719 USD were sent from Polygon to an unknown wallet.

Also read: Breaking: Banks, Crypto Market Rally As US CPI Data Comes In At 6%

In a separate transaction, two unknown wallets transferred a massive amount of MATIC tokens to Binance, another prominent crypto exchange. The first wallet transferred 30,000,000 MATIC tokens, equivalent to 35,330,121 USD, while the second wallet transferred 30,000,000 MATIC tokens, worth 35,388,676 USD. 

Solana price rises

Solana price soars by 13.26% in the last 24 hours and each SOL token is trading for 21.82 USD. The market cap for this crypto is currently at 8.35 billion USD. Trading volume is up by 22.52% over the last day. Solana has seen a rise of 4.29% in the last 30 days, trading as high as $26.93. Over the past 7 days, the token has seen a growth of 8.00%. 

The current upward trend in Solana’s price was predicted to be slowing down as the token was struggling to surpass the resistance level at $20.33. This struggle had been ongoing for the past three days. Even though the token reached a high of $20.68 during the day, it was turned away by the 50-day Exponential Moving Average (EMA) at $21.08. However, it would be a massive relief for investors to see the price of SOL breaching the resistance.

Also read: Breaking: Bitcoin Jumps 17% Breaks $26K As US CPI Inflation Cools To 6%

Shourya is a fintech enthusiast who mainly reports on Cryptocurrency Prices, Union Budget, CBDC, and FTX collapse. Connect with her at [email protected]