Two major whales took action after the latest developments in this subco: they carried a large amount of coin from the stock market to their cold wallets

According to On-Chain data from Lookonchain, two big Solana (Sol) The whale pulled more than 95,000 left from Binance within two hours. Withdrawal transactions took place after an important announcement by the CME Group on the futures trade trade.

According to Lookonchain Observations:

• AHDUMW… QMNJ wallet drew 54,544 left (about 7.46 million dollars) from Binance two hours ago.
• 7i6Fur… KP5J wallet pulled 41.096 left (about 6.96 million dollars) from Binance an hour ago.

The whale activity seems to be a reaction to CME Group’s announcement that it plans to launch futures contracts on 17 March 2025. CME, a leading global derivative market, plans to initiate a two -type Solana futures contract:

• A standard contract representing 500 left.
• 25 A micro -scale contract representing the left.

Giovanni Vicioso, the global president of CME crypto currency products, said, uz We respond to the increasing customer demand for a wider arranged product set to manage crypto currency price risk. ”

In case of approved, the initiation of solana futures may pave the way for the stock market investment funds (ETFs) of Solana. In particular, companies such as Vaneck, 21shares and Franklin Templeton have already applied to the US Securities and Stock Exchange Commission (SEC) Spot Solana ETFs and the earliest applications dates back to June 2024.

Sector experts suggest that SEC may want to observe several months of commercial activities in a futures market that was arranged before giving ETF approval. CF Benchmarks CEO Sui Chung said that CME’s launch of futures contracts “significantly increases the possibility of ETF approval.

The ETF Store President Nate Gerraci said CME’s solana futures will be a cash compromise and this is seen as a positive factor for ETF applications. Futures will be based on the CME CF Solana USD reference ratio, which is used as a reference for daily left/USD pricing and calculated at 16:00 per day at London time.

*It is not an investment advice.