Bold market play with Sol's $52.78 million whales withdrawn from Binance Signal

Sol is in the news. The Big Whale recently executed an unexpected deal. The Whale performed a withdrawal of 374,161 Sol Tokens from binance worth $52.78 million at the price of $141 each. This attracted the attention of the crypto industry, both because of its size within the community and its unusual transaction records.

Do you sell Sol Low and buy it for a higher price?

The main elements of the mystery have been surrounding this whale transactional pattern since the previous week. The same wallet engaged in off-roading from April 9th ​​to April 13th, and was engaged in off-roading through its USDC address. The whales first traded by selling their valuable assets at a discounted price, then bought back the token decline at a high price in a short period of time.

The whales engaged in a different investment approach to traditional market tactics by purchasing at a higher price after the price fell. Whether due to a strategic institutional planning or failure to enter the market, the specific reasons remained elusive, but the actions were remarkably courageous.

What is driving decisions?

Behind this unorthodox strategy is a few plausible theories. The whales showed signs of bullishness in the market when they acquired their Sol Token as they hope prices continue to rise. The whales first sold their position before repurchasing, as they needed to re-align their portfolio, but were waiting for a positive indication for technical metrics and macro trends to return. Market speculations are certainly going to increase due to substantial withdrawal volumes, regardless of the motivational factors behind them. This accumulation of tokens by whales stands in a position to demonstrate a robust belief in Solana's expanded viability, due to the rise in on-chain traffic, along with the increase in Defi development on the network.