【Hacker swaps out half of the SOL】
Everyone thought the hacker dumping SOL would crush the order book, but SOL only wobbled.
According to Lookonchain's monitoring this evening, the Binance hacker is converting the 970,500 stolen SOL into BTC. 487,000 SOL have already been transferred out within an hour via the Relay cross-chain protocol—not through exchange order books.
Arkham data shows that this address still holds around 484,000 SOL.
The price barely reacted: at 21:08, Binance SOL perpetuals were quoted at 94.91, down just 1.05% over 24 hours.
What stings even more is that the FBI just urged DeFi and cross-chain platforms to block the hacker's address, yet these funds were still converted. Once turned into BTC, they'll be harder to trace.
My take: The remaining 480,000 SOL are a sword hanging over SOL in the short term. But as long as the hacker keeps converting them gradually on-chain instead of dumping them all on exchanges, I think SOL will keep grinding within the 92–100 range.
Invalidation condition: A 4H close below the bottom of the range at 92.06 would mean selling pressure has exceeded buying support. This view would no longer hold, so prioritize defense.
Do you think the remaining 480,000 SOL will move tonight?
Sources: Lookonchain, Odaily, Bitbase
#Solana #Bitcoin
📈 Top three contract gainers (21:08): $ESPORTS +73.31%｜$APR +35.47%｜$FLOCK +23.25%
#Binance Square
⚠️ The above is a compilation of information and personal opinions, and does not constitute investment advice. DYOR.
Everyone thought the hacker dumping SOL would crush the order book, but SOL only wobbled.
According to Lookonchain's monitoring this evening, the Binance hacker is converting the 970,500 stolen SOL into BTC. 487,000 SOL have already been transferred out within an hour via the Relay cross-chain protocol—not through exchange order books.
Arkham data shows that this address still holds around 484,000 SOL.
The price barely reacted: at 21:08, Binance SOL perpetuals were quoted at 94.91, down just 1.05% over 24 hours.
What stings even more is that the FBI just urged DeFi and cross-chain platforms to block the hacker's address, yet these funds were still converted. Once turned into BTC, they'll be harder to trace.
My take: The remaining 480,000 SOL are a sword hanging over SOL in the short term. But as long as the hacker keeps converting them gradually on-chain instead of dumping them all on exchanges, I think SOL will keep grinding within the 92–100 range.
Invalidation condition: A 4H close below the bottom of the range at 92.06 would mean selling pressure has exceeded buying support. This view would no longer hold, so prioritize defense.
Do you think the remaining 480,000 SOL will move tonight?
Sources: Lookonchain, Odaily, Bitbase
#Solana #Bitcoin
📈 Top three contract gainers (21:08): $ESPORTS +73.31%｜$APR +35.47%｜$FLOCK +23.25%
#Binance Square
⚠️ The above is a compilation of information and personal opinions, and does not constitute investment advice. DYOR.
