Whale Withdraws 59,406 SOL from Kraken and Sells for 7.47M USDT on DEX
According to Crypto Rover, a whale has withdrawn 59,406 SOL from Kraken and sold it on a decentralized exchange (DEX) for 7.47M USDT. This significant movement could indicate a bearish sentiment from the whale towards SOL, potentially affecting its market price in the short term.
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On March 19, 2025, at 14:35 UTC, a significant transaction involving the withdrawal of 59,406 SOL from Kraken and subsequent sale on a decentralized exchange (DEX) for 7.47 million USDT was reported by Crypto Rover on Twitter (Crypto Rover, 2025). This transaction represents a notable movement in the Solana ecosystem, prompting immediate market reactions and potential trading implications. At the time of the transaction, the price of SOL was $125.76 per token, resulting in a total sale value of approximately $7.47 million (CoinGecko, 2025). The transaction occurred on the Solana blockchain, with the sale executed on the Raydium DEX at 14:40 UTC (Solana Explorer, 2025). This event is significant due to its size and the potential impact on SOL's market dynamics.
Following this whale transaction, SOL experienced a notable price drop of 3.2% within the first 30 minutes, trading at $121.73 by 15:10 UTC (CoinGecko, 2025). The trading volume on Raydium surged by 220%, reaching a total of 2.3 million SOL traded within one hour of the transaction (Raydium Analytics, 2025). This increased volume suggests heightened market activity and potential volatility. The immediate reaction in the SOL/USDT pair indicates market sensitivity to large transactions. Additionally, the SOL/BTC pair saw a decline of 2.8%, with SOL trading at 0.0019 BTC at 15:15 UTC, reflecting broader market sentiment shifts (Binance, 2025). The on-chain metrics revealed an increase in active addresses by 15% and a rise in transaction volume by 18% within the same timeframe (SolanaScan, 2025), indicating increased network activity post-transaction.
Technical indicators post-transaction showed the Relative Strength Index (RSI) for SOL dropping from 62 to 55 within an hour, signaling a move towards oversold territory (TradingView, 2025). The Moving Average Convergence Divergence (MACD) indicated a bearish crossover at 15:00 UTC, suggesting potential further downside (TradingView, 2025). The trading volume on centralized exchanges like Binance also increased by 150%, with 1.8 million SOL traded within the first hour after the whale transaction (Binance, 2025). This data suggests that traders should closely monitor SOL's price movements and be prepared for potential further volatility. The on-chain metrics continued to show increased activity, with the number of transactions per second rising by 20% by 16:00 UTC (SolanaScan, 2025).
In the context of AI developments, there have been no direct AI-related news impacting SOL on this date. However, the general market sentiment towards cryptocurrencies, including AI tokens like Fetch.AI (FET), has remained stable, with FET trading at $1.45 and showing a slight increase of 1.2% within the same period (CoinGecko, 2025). The correlation between SOL and major AI tokens remains low, with a correlation coefficient of 0.15 over the past 24 hours (CryptoCompare, 2025). This suggests that the whale transaction's impact on SOL is primarily isolated to the Solana ecosystem. Nonetheless, traders should keep an eye on any AI-related news that could influence broader market sentiment and potentially affect trading volumes and price movements in both SOL and AI tokens.
Following this whale transaction, SOL experienced a notable price drop of 3.2% within the first 30 minutes, trading at $121.73 by 15:10 UTC (CoinGecko, 2025). The trading volume on Raydium surged by 220%, reaching a total of 2.3 million SOL traded within one hour of the transaction (Raydium Analytics, 2025). This increased volume suggests heightened market activity and potential volatility. The immediate reaction in the SOL/USDT pair indicates market sensitivity to large transactions. Additionally, the SOL/BTC pair saw a decline of 2.8%, with SOL trading at 0.0019 BTC at 15:15 UTC, reflecting broader market sentiment shifts (Binance, 2025). The on-chain metrics revealed an increase in active addresses by 15% and a rise in transaction volume by 18% within the same timeframe (SolanaScan, 2025), indicating increased network activity post-transaction.
Technical indicators post-transaction showed the Relative Strength Index (RSI) for SOL dropping from 62 to 55 within an hour, signaling a move towards oversold territory (TradingView, 2025). The Moving Average Convergence Divergence (MACD) indicated a bearish crossover at 15:00 UTC, suggesting potential further downside (TradingView, 2025). The trading volume on centralized exchanges like Binance also increased by 150%, with 1.8 million SOL traded within the first hour after the whale transaction (Binance, 2025). This data suggests that traders should closely monitor SOL's price movements and be prepared for potential further volatility. The on-chain metrics continued to show increased activity, with the number of transactions per second rising by 20% by 16:00 UTC (SolanaScan, 2025).
In the context of AI developments, there have been no direct AI-related news impacting SOL on this date. However, the general market sentiment towards cryptocurrencies, including AI tokens like Fetch.AI (FET), has remained stable, with FET trading at $1.45 and showing a slight increase of 1.2% within the same period (CoinGecko, 2025). The correlation between SOL and major AI tokens remains low, with a correlation coefficient of 0.15 over the past 24 hours (CryptoCompare, 2025). This suggests that the whale transaction's impact on SOL is primarily isolated to the Solana ecosystem. Nonetheless, traders should keep an eye on any AI-related news that could influence broader market sentiment and potentially affect trading volumes and price movements in both SOL and AI tokens.
Crypto Rover
@rovercrc160K-strong crypto YouTuber and Cryptosea founder, dedicated to Bitcoin and cryptocurrency education.