Large wallet withdraws 453,700 SOL worth $46.6M from Coinbase and stakes it
- —453,700 SOL worth about $46.6 million withdrawn and staked
- —Latest operation: 184,500 SOL worth $18.94 million staked 16 hours ago
- —Withdrawals from Coinbase occurred multiple times over two months
- —Wallet owner and purpose of operations not identified from on-chain data
Why it matters: The outflow of SOL from exchanges into staking reduces available supply and may indicate a long-term position by a large holder.
Source: TokenPost