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The cryptocurrency market faced a large-scale sell-off, with over $1.08 billion in leveraged positions liquidated in the past 24 hours. Traders betting on price increases lost nearly $498 million, while those in short positions accounted for $583.93 million. Ethereum (ETH), XRP, Cardano (ADA), and Solana (SOL) saw significant liquidations, rattling many crypto investors. Data shows Bitcoin (BTC) led the liquidation wave with $415.11 million wiped out, followed by Ethereum at $190.82 million. XRP posted $96.50 million in liquidations, ADA $86.91 million, while SOL trailed closely with $86.76 million. Notably, Binance accounted for the largest single liquidation event, where a BTC/USDT trade valued at $15.49 million was erased. This volatile trading period has also sparked discussion about the proposed U.S. “Crypto Strategic Reserve.” One crypto observer criticized the selection of XRP, ADA, and SOL for the reserve, arguing that these tokens lack real-world utility. Accusations surfaced, claiming XRP is mainly for insider selling, ADA’s founder might have connections to controversial individuals, and SOL has allowed pump-and-dump schemes in the memecoin space. Related: FTX/Alameda Unstakes $432M in SOL Sending Tokens to Exchanges, Adds to SOL Price Pressure Adding to the tension, crypto analyst Marty Party alleged that Binance offloaded its SOL and ETH holdings to settle its Department of Justice (DOJ) fines while making money from futures liquidations. Even Bybit reportedly liquidated markets to recover lost ETH, only to buy it from retail investors at discounted prices. Such actions can reignite distrust toward centralized exchanges and spark calls for greater transparency. The liquidation data issue continues to intensify, with Coinglass urging Binance to publicly disclose all liquidation metrics. Binance restricted liquidation data access in mid-2021, citing potential risks to its perpetual contract business. Previously, former CEO Changpeng Zhao (CZ) had voiced concerns that too much transparency could attract regulatory attention and media-driven market manipulation. However, critics argue that data transparency is a fundamental blockchain principle that should not be compromised. Related: SEC Goes All In on Crypto Task Force: Here’s the Complete List of Key Members Despite skepticism, some traders remain optimistic. Supporters see the current market dip as a natural pause before a bullish rebound. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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A substantial cryptocurrency transfer involved 3 million Solana (SOL) tokens worth $510.36 million that moved into a Binance cold wallet. These notable financial transactions stem from an inactive stake account holding the ownership of those Solana (SOL) tokens which had not participated in any activities for a period of two months. Just In: 3M $SOL, valued at $510.36M, has been deposited into the #Binance cold wallet from a stake account after 2 months of dormancy.This wallet likely belongs to #Binance itself.https://t.co/ooOykh5MVM pic.twitter.com/gfhfZQzKXr — Onchain Lens (@OnchainLens) March 3, 2025 According to Onchainlens, a large movement of SOL tokens from an inactive stake account was observed 10 minutes ago when they immediately flowed to a cold wallet controlled by Binance, one of the biggest crypto exchange platforms worldwide. When the tokens were transferred, an exchange worth $510.36 million occurred in the market. Big transactions have occurred before using this stake account. Analysis of the account reveals various important transfer operations dating back to its history. The same stake account completed a 3 million SOL transaction of $550.65 million two months back. The stake account underwent its most substantial transfer during the previous August when it received 60.027 SOL worth $8.2 million. A pattern for periodic liquidity management appears through various transactions with different amounts and valuations throughout the past year within this stake account. Market Trends and Binance’s Role Such substantial fund transfers generate several possible effects. Fund transfers exceeding market standards tend to generate conjecture among market watchers about whether entities aim to distort prices or prepare for big financial exchanges. The SOL price tends to experience changes when owners release their tokens for open market sale. Users opt for cold wallets because such offline storage methods protect their funds against cyber criminals when they are not connected to the online world. Large institutional activities in Solana transactions provide indications about major players’ ongoing involvement with Solana investments in the face of market fluctuations. Binance plays an essential role because it receives the distributed SOL tokens. The exchange proved its ability to process substantial cryptocurrency volumes, gaining the required market liquidity for executing large-scale transactions and maintaining network stability. Major exchanges continue to demonstrate their vital market health role through their ability to lead the cryptocurrency liquidity functions. A significant movement in the cryptocurrency space occurred when Binance deposited 3 million SOL into its cold storage facility which demonstrates major market players conducting major financial transactions. The crypto market maintains its constant fluidity because big digital asset security measures remain vital to manage economic shifts between major market participants. All elements regarding Solana’s market valuation investor sentiment and network stability will receive close observation from the market as these developments occur.

Balance: a16z-Backed Exploration of AI and Web3-Powered Interactive Entertainment Ecosystem The Balance, developed by the team behind the gaming companion platform E-PAL, aims to build an interactive entertainment ecosystem centered on AI interaction, decentralized identity, the fan economy, and token economy. Founded in 2020, E-PAL has tens of millions of registered users in the Web2 space. Read more