According to on-chain alerts, FalconX pulled 413,075 SOL from major exchanges over an eight-hour stretch, valued at about $98.4 million. The tokens were moved off Binance, OKX, Coinbase and Bybit into wallets linked to the brokerage, reports have disclosed.
FalconX Withdrawals Raise Eyebrows
Blockchain trackers flagged the transfers as significant because they happened across multiple venues in a short window.
FalconX is the largest digital asset prime brokerage, the company’s website shows.
Lookonchain and other analytics firms have flagged the pattern as consistent with institutional activity, where assets are moved into custody or cold storage rather than kept on exchange accounts ready for sale.
Large withdrawals cut the pool of SOL sitting on exchanges. That matters because less exchange supply can tighten available coins for
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