Nearly 100,000 SOL were transferred to institutional custody in the early morning, worth over 13.7 million dollars.

[比推] Around 6:03 this morning, there was a significant movement on-chain — nearly 100,000 SOL (specifically 98,500 SOL) flowed out from Bullish exchange to a Fireblocks hosted wallet. At the time's price, this transfer was worth approximately 13.71 million dollars.

What does a transfer of SOL of this scale usually signify? It could mean that institutions are adjusting their asset allocations or preparing for over-the-counter trades. Fireblocks, as a professional institutional-grade hosted wallet, often receives large transfers from exchanges.

It is worth noting that the outgoing party Bullish—this exchange is backed by Block.one, and their large movements are often accompanied by certain strategic layouts. Recently, the popularity of the SOL ecosystem has continued, and this capital flow is worth further observation.