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Major Whales Liquidate SOL Tokens
In a major development, Solana (SOL) whales have offloaded around $50 million worth of SOL following a significant staking unlock. Four prominent whale addresses recently unlocked approximately 1.79 million SOL tokens, valued at around $206 million. This event marks the largest single-day staking release of SOL, with the next unlock not expected until 2028.
Whale Activity Impact on the Market
After the unlock, these whales began selling a significant portion of their holdings. One wallet alone sold nearly 260,000 SOL tokens, valued at over $30 million, while three other wallets combined sold roughly $16 million in SOL. Despite these massive sales, the four wallets still hold around 1.38 million SOL, worth about $160 million.
Price Reaction to the Unlock
Prior to the unlock, SOL was trading at approximately $131.11. Following the release of the staked tokens and the whale activity, the price dropped by about 12%, settling at $114.66. This significant price movement highlights the impact that large-scale token unlock events can have on the Solana market.
