$51 million worth of $SOL just got sent back to Coinbase, and the price barely budged off the $110 mark.
On-chain data shows these tokens were pulled from cold storage and dumped back as sellers dominate after the recent dip, but the 24h drop is only 0.34% — the market’s not even trying to absorb this sell wall right now.
Short term? Don’t jump in unless you see a clear volume spike to eat up the sell pressure, or funding rates flip positive. Mid term logic only holds if outflow resumes after this flush; if more tokens keep piling on exchanges, the $SOL narrative breaks.
You think this is just short-term profit-taking, or a sign mid-tier capital is bailing on $SOL? Drop a 1 for short-term sell-off, 2 for mid-term exit.
#Write2Earn #BinanceSquare #SOL OnChain
On-chain data shows these tokens were pulled from cold storage and dumped back as sellers dominate after the recent dip, but the 24h drop is only 0.34% — the market’s not even trying to absorb this sell wall right now.
Short term? Don’t jump in unless you see a clear volume spike to eat up the sell pressure, or funding rates flip positive. Mid term logic only holds if outflow resumes after this flush; if more tokens keep piling on exchanges, the $SOL narrative breaks.
You think this is just short-term profit-taking, or a sign mid-tier capital is bailing on $SOL? Drop a 1 for short-term sell-off, 2 for mid-term exit.
#Write2Earn #BinanceSquare #SOL OnChain