On May 27, two transactions worth 2,000,000 Solana (SOL), worth approximately $351.5 million, were withdrawn from Binance’s cold wallet and transferred to two recently established stake accounts on the Solana blockchain.
The two transactions were roughly the same as reported by the Whale Alert. Initially, it was confirmed by UTC at 8:41am, with a 1,000,000 Sol equivalent moving around about $17,578 million. The second followed UTC one minute later at 8:42am, moving another 1,000,000 SOL equal to about $17,581 million. Both landed on fresh Solana stake accounts and came from Binance Cold Wallet.
These wallets currently hold all the balances and do not send any funds. Each transaction costs just 0.000085 SOL, with both destination addresses being created just before the transfer and now associated with staking rather than transaction.
1,000,000 #sol (175,784,649 USD) transferred from #binance to unknown new wallethttps://t.co/l5jpl6ldgm
– Whale Alert (@Whale_Alert) May 27, 2025
1,000,000 #sol (175,806,681 USD) transferred from #binance to unknown new wallethttps://t.co/hzy6ixkeyf
– Whale Alert (@Whale_Alert) May 27, 2025
There is no public labeling or exchange affiliation tied to the incoming wallet. However, based on the transaction type and setup, both seem to be structured for staking, not for sales or liquidity purposes.
At the time of the move, Sol was trading at around $175.32. The market response was minimal. There is no surge in volatility or trading volume. The transfer did not result in an immediate price shift in the spot market.
With the futures of Binance, emotions remained bullish. All top trader positions totaled 69.62%, while 30.38% was short. All user accounts were long, 68.57% reflecting positive market bias.
The source and destination are both known on the chain, but the motivation behind the move remains unknown. This could be related to internal finance restructuring, third party custody, or institutional staking.
