Wallet Stakes 370,000 Solana After Binance Withdrawal Worth About $39 Million

A wallet withdrew 370,000 Solana (SOL), valued at about $39 million, from Binance over three hours and staked the full amount shortly afterward, moving a large holding into network staking.

The stake followed the withdrawals by about 15 minutes. Staking allows SOL holders to seek rewards on the Solana network.

The activity shows what one wallet did with the tokens after they left Binance. It does not establish Binance’s net SOL flow, which depends on deposits and other withdrawals during the same period. One wallet’s move also does not establish a broader change in investor sentiment.