Three Binance Outflows Total $400.8 Million, Led by Two Million Solana

Three transfers from Binance to unknown wallets totaled $400.8 million in the three-hour window ending at 1 p.m. ET Nov. 1, led by a two million Solana (SOL) transaction worth $190 million.

At 10:13 a.m. ET, Binance sent 50 million XRP to an unknown wallet, a transfer valued at $62.4 million. The two larger transactions followed: two million SOL at 10:28 a.m. ET, then 148,533,038 Tether (USDT) at 10:29 a.m. ET, with the latter valued at $148.4 million. The two million Solana transfer from Binance to an unknown wallet was the largest single move in the group.

Exchange inflows are often watched as potential selling activity, while outflows may be viewed as movement into holding wallets. The transfers alone do not establish whether recipients sold, held or otherwise used the assets.