Did Binance Dump Solana? The Truth You Didn’t See Coming 🤯

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Alright, folks, let’s cut through the crypto static. Binance has burst into the room like a reality show contestant and addressed rumors it’s been giving Solana (SOL) the cold shoulder during this market crash. Spoiler alert: they swear they’re innocent—cue the dramatic music 🎻.

Look, the crypto market’s been wobbling harder than a toddler on ice skates. Thanks to macro uncertainties and, oh yeah, those pesky Trump-era tariff whispers lurking in the background, Solana saw a serious nosedive, dropping below $130 earlier today. Who hurt you, Solana? 😢

For the week, SOL took a 23% dive—a number that would make even Olympic divers gasp. Social media, as always, quickly donned its detective hat and began accusing big crypto players like Binance of offloading their SOL bags through discreet OTC (over-the-counter) trades. Ooh, conspiracy vibes 🔍.

But wait, there’s more! The theories got even juicier when screenshots started spreading like wildfire, showing market makers withdrawing piles of Solana from Binance. It was the crypto equivalent of a suspicious spouse checking the “last online” status.

Now, Binance, channelling chill-parent energy, shook their heads and said: “Nah, fam, you’ve got it all wrong.” A Binance spokesperson came through with this gem:

“Binance hasn’t ‘dumped’ or ‘sold’ large amounts of tokens as some tweets have wrongly claimed. They are misunderstanding what Binance does as an exchange, which is we simply help users match trades.”

WinterMute: The Solana Whisperer 🐋

Meanwhile, blockchain analytics firm Arkham Intelligence noticed market maker Wintermute was out here withdrawing $38.2 million worth of Solana (SOL) from Binance in the last 24 hours. *Gasp*! And just in time for Solana’s $2 billion token unlock on March 1. Coincidence, or the crypto version of a perfectly-timed breakup text? 🔥

The Binance spokesperson, however, politely reminded everyone that market makers have independence: “We’re not their helicopter parent,” they probably wanted to say. For context:

“We have no visibility into our users’ decisions, including market makers who move their assets according to their own strategies. So while blockchain transparency is one of the best things about crypto, it’s important not to jump to conclusions about screenshots of transactions.”

Will Solana Get Off the Couch and Bounce Back? 🚀

Here’s the tea: ALT coins are all doing their best Titanic impressions, and Solana is no exception. After tanking over 10%, it did pull a little Lazarus act by recovering above $140 levels, but investors are basically like, “Can’t you just behave?”

Crypto analyst Ali Martinez chimed in with some sage words for SOL bulls: hold that $125 support level, or prepare to spiral. $125 is apparently where all the cool kids are hanging out in the Solana charts.

Source: Ali charts

In related whale business 🐋, a mysterious new wallet just withdrew 96,128 Solana (worth $12.37 million) from Binance at $128.6. But wait—it gets boujee. The funds were staked entirely with Jito. According to blockchain analytics firm SpotonChain, this wallet belongs to a savvy crypto whale who might as well have a bumper sticker that says “Timing is Everything.” Three days ago, they sold SOL at $140.8, reportedly netting a sparkling profit of $4.58M (+51%). This, my friends, is how whales roll.

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2025-02-28 18:56