Whale Moves 240,000 SOL Worth $25.3M to Binance, OKX, Bybit in 24 Hours

Large exchange deposits are read as a sell-intent signal precisely because they put liquidity within reach of an order book, but the inference is circumstantial: a deposit is not a trade, and splitting the flow across three venues can serve routing, custody or collateral needs as easily as exit. The read matters most for SOL holders watching near-term liquidity and for the venues involved, which now hold a meaningful position in one wallet's hands. Whether any of the deposited SOL actually reaches the market is the open question.