Solana faces Binance hacker’s $95.9M swap – Can SOL defend $90?

The market continues to track the Binance hacker’s wallet activity. As AMBCrypto recently flagged, the hacker had used stolen funds as collateral to borrow Ethereum [ETH] on Aave. This complicated efforts to freeze the funds, with further asset swaps appearing to extend the laundering process. As can be seen in the chart below, the hacker is actively swapping 970k SOL ($95.9 million) into BTC via the Relay Protocol. The key takeaway? Around 486,970 SOL ($46.4 million) has already moved in the past hour, meaning nearly half of the total stash has been routed through the swap. This has sparked fresh speculation about what the hacker’s moves could mean for Solana. Could Solana’s $90 support attract buyers? Interestingly, traders are positioning for more downside.

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