Crypto Whale Moves 308K SOL to Kraken and Bybit, Realizes $16M Loss

A crypto whale identified as “5p6zPz” has transferred 308,100 SOL, valued at approximately $21.22 million, to Kraken and Bybit exchanges, locking in an estimated realized loss of $16.06 million.

The tokens were originally withdrawn from Binance at a significantly higher value of about $37.28 million, underscoring the steep decline in the position over time.

The move came amid broader market pressure, as Solana fell 4.5% over the past 24 hours to $68.57, coinciding with the transfer.

Source: Onchain Lens