A dormant Solana (SOL) wallet withdrew 80,000 SOL worth $10.87 million from Binance after remaining inactive for one year.
On-chain tracker Lookonchain identified the January 10 transaction moving tokens to a private wallet.
Exchange-to-wallet transfers typically signal long-term holding intentions rather than selling plans.
What Happened
The wallet address 7Z4KKD executed the withdrawal approximately five hours after Lookonchain's initial detection.
Tokens moved off Binance represent a departure from exchange custody where rapid sales occur most frequently.
Solana traded at $135.68 as of January 10, down from a $140.42 intraday high to a $135.05 low.
The network's 24-hour trading volume declined 24.42% to $3.76 billion.
Whale accumulation patterns emerged across early 2026 despite Solana declining 46% over three months.
Santiment data showed large wallets making repeated 10+ SOL purchases through the network downturn.
Read also: What US Banks Were Really Doing During The BTC Panic: CZ Exposes The Hidden Accumulation Phase
Why It Matters
Exchange withdrawals to private wallets remove selling pressure from centralized order books.
Large holders typically leave assets on exchanges when planning near-term liquidations for faster execution.
Solana faces its most significant infrastructure upgrade since launch with the Alpenglow consensus overhaul expected in H1 2026.
The upgrade targets 100-150 millisecond transaction finality, reducing current 12.8-second confirmation times.
Validators approved Alpenglow with 98.27% support in September 2025.
Network performance improvements could drive adoption but require successful technical execution before impacting fundamentals.
Read next: Why Did Altcoins Suddenly Capture 50% Of All Crypto Trading Volume?