Large-scale Solana (SOL) investor astonishes Bybit with a substantial deposit worth millions.
In the realm of cryptocurrency, Solana (SOL) has been making waves recently, with significant wallet activity suggesting institutional-scale movements rather than immediate profit-taking or portfolio rebalancing.
A notable event occurred on August 21, 2025, when an $181 million transfer of SOL was reported from Binance to a cold wallet. This move, typically viewed as institutional accumulation or long-term holding, rather than profit-taking, has sparked interest in the cryptocurrency market.
Further supporting this, on-chain data shows over 5,200 whale wallets holding more than $2 million SOL each, indicating a growing institutional adoption. Additionally, institutional adoption via ETFs and corporate reserves totaling $1.1 billion in public company holdings has been observed, signaling confidence rather than liquidation. No explicit mention of large-scale selling or portfolio rebalancing transactions has been found in the most recent data.
As a result, recent significant SOL wallet transactions point more towards institutional accumulation or long-term strategic holding than clear indications of profit-taking or portfolio rebalancing. In real-time, Solana blockchain explorers show high transaction throughput but have not highlighted specific large sell-offs or wallet transfers indicative of profit-taking as of August 2025.
Meanwhile, the price of SOL has been on the rise. After clearing a technical ceiling around $196, SOL is currently trading at approximately $203, representing a gain of about 55% in value from the initial purchase of 39,875 SOL worth approximately $8.19 million, five months ago, at an average price of $132.
This spike in SOL came after a week of mostly green candles, putting SOL ahead of most other large-cap altcoins. However, if SOL cannot hold above $200, it may pull back to the $188-$190 support zone.
As the wider crypto space starts seeing new highs, this move in SOL has added to the positive sentiment in the market. For those interested in real-time wallet-level insights, monitoring tools like the Solana blockchain explorer and whale tracking services would provide real-time alerting, as no obvious profit-taking transactions are evident from recent publicly available information.
In summary, the recent SOL wallet activity indicates institutional confidence and possible accumulation, with over 5,200 wallets holding $2M+ SOL each, and growing institutional holdings. The current price of SOL is trading around $203, having cleared a technical ceiling and gaining about 55% in value since its initial purchase.
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