Whales Move $111 Million of Solana to Coinbase Institutional

On October 31, 2026, two large transfers moved a total of $111 million in Solana to Coinbase Institutional. The transfers, which originated from unknown wallets, included 609,699 SOL valued at $58.5 million and 550,157 SOL worth $52.7 million. While such transfers are typically interpreted as signs that holders are preparing to sell, the price of Solana rose 1.8% to $96 during the same period, according to.

The movement of large amounts of Solana tokens to Coinbase Institutional, which operates as a custodian and trading desk for the Solana ecosystem, raises questions about whether holders are preparing to cash out or simply moving assets to safer storage. Despite the transfers, Solana remains down 18.7% for October, according to.