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COINOTAG News, citing Arkham analyst Emmett Gallic, reported that a Solana ancient whale address transferred 200,000 SOL (about $40 million at current pricing) to Coinbase Prime. The move adds to on-chain activity among large SOL holders and could indicate growing use of custody solutions and institutional-ready settlement within the Solana ecosystem.
Additionally, the same whale address had previously received 222,000 SOL from an address tagged as the Solana: Non-Circulating Supply roughly five years ago, just five months after the Solana mainnet launched, when SOL traded around $1.68. This historical inflow from a non-circulating supply source underscores long-term address activity. The current Coinbase Prime move could reflect broader institutional demand for secure SOL custody and streamlined settlement in the Solana market.
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