Solana saw 5.52M SOL unstaked, with $516M sent to Coinbase. Despite this, SOL's price stabilized on the charts. Can it sustain the recovery?
5.52 million SOL, valued at approximately $810 million, while 3.54 million SOL was deposited into Coinbase Prime. Such movements often signal shifts in investor sentiment and liquidity trends.The Total Value Locked in Solana’s Liquid Staking Platforms offers valuable insight into broader staking trends.has remained relatively stable. This is indicative of the fact that this is not part of a widespread exit, but rather a targeted manuever by a few large holders.
Typically, such large movements introduce selling pressure. On the contrary, SOL’s price has stabilized this time, suggesting strong market demand and confidence among traders.Despite a minor dip projected by the latest price candle on the charts, it’s worth noting that prior to the same, the altcoin recorded an 11% hike to trade as high as $148.
Monitoring exchange inflows, staking redeployment, and liquidity absorption will be crucial in determining SOL’s next move.
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