A wallet put 370,000 Solana (SOL) into staking after withdrawing the tokens from Binance over three hours, placing a holding valued at about $39 million when withdrawn in a process that offers potential network rewards.
The full amount was staked about 15 minutes after the withdrawals ended. Staking gives SOL holders a way to seek rewards on the Solana network. The $39 million valuation applies to the tokens when they left Binance.
The later staking step accounts for what this wallet did with the withdrawn tokens. It cannot establish Binance’s net SOL flow, which also depends on deposits and withdrawals involving other wallets. One wallet’s activity does not demonstrate a broader change in investor sentiment.
