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SOL

Whale Deposits 39,875 SOL to Bybit — $2.93M Unrealized Gain

I noticed a whale moved 39,875 SOL (about $8.9M) into the Bybit exchange, showing an unrealized profit of roughly $2.93M. This transfer was reported by Onchain Lens via BlockBeats on August 14.

I view the deposit as a potential sell signal but not definitive — large inflows to exchanges can precede selling yet can also reflect custody shifts or margin activity. I'll monitor subsequent on-chain flows and order book changes before acting.

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Analysis

The transfer of nearly 40k SOL to an exchange increases the risk of liquidation or large sell orders, but one deposit alone is ambiguous. Context such as follow-up withdrawals, order book depth, and b...

Recommendation

Watch the situation closely rather than trade immediately: track further exchange inflows, price action, and volume. Avoid reactive positions until clearer selling behavior or distribution appears.

Disclaimer

The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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