{"id":20615,"date":"2025-04-04T13:32:10","date_gmt":"2025-04-04T13:32:10","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20615"},"modified":"2025-04-04T13:32:10","modified_gmt":"2025-04-04T13:32:10","slug":"solana-whales-begin-offloading-sol-amid-200m-staking-unlock","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20615","title":{"rendered":"Solana whales begin offloading SOL amid $200M staking unlock"},"content":{"rendered":"
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\"Solana<\/p>\n

Solana whales have offloaded their tokens to cash in on gains from a staking play that began four years ago.\u00a0<\/p>\n

In April 2021, four whale addresses staked 1.79 million Solana (SOL<\/a>) tokens, then worth about $37.7 million. The stake was unlocked on April 4, in what Arkham Intelligence called \u201cthe largest single-day unlock of staked SOL.\u201d The firm noted that the next similar unlock is not expected until 2028.<\/p>\n

At the time of the unlock, the tokens were valued at roughly $206 million, representing a 446% gain from the initial staking period.<\/p>\n

\"Solana\"
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Solana tokens scheduled to be unlocked on April 4. Source: Arkham<\/em><\/p>\n<\/figcaption><\/figure>\n

Solana whales sold nearly $50 million<\/h2>\n

After the tokens were unlocked, the whales started to dump<\/a> their holdings. Arkham data shows that over 420,000 SOL tokens, worth about $50 million, had been unstaked by the four Solana wallets at the time of writing.\u00a0<\/p>\n

Following the unlock, blockchain analytics firm Lookonchain said<\/a> the whales had started offloading their funds. One wallet address dumped nearly 260,000 SOL tokens worth over $30 million. Three other wallets sold about $16 million in SOL.\u00a0<\/p>\n

Arkham data shows that the four wallets still hold about 1.38 million SOL tokens worth roughly $160 million.\u00a0<\/p>\n

The SOL unlock follows a significant decrease in SOL token prices since April 2. CoinGecko data shows that on April 2, SOL hit a high of $131.11. At the time of writing, Solana was trading at $114.66, a 12% decrease in two days.\u00a0<\/p>\n

\"Solana\"
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Solana token seven-day price chart. Source: CoinGecko<\/em><\/p>\n<\/figcaption><\/figure>\n

Related: <\/strong><\/em>Babylon users unstake $21M in Bitcoin following token airdrop<\/strong><\/em><\/a><\/p>\n

FTX wallets unstaked $431 million in SOL<\/h2>\n

The unstaking event by four whale wallets follows another large unlock, by bankrupt crypto exchange FTX and its trading arm, Alameda Research.\u00a0<\/p>\n

On March 4, FTX and Alameda wallets unstaked over 3 million Solana tokens<\/a> worth about $431 million. The event was FTX\u2019s largest SOL unlock since it started selling its tokens in November 2023.\u00a0<\/p>\n

Data from the analysis platform Spot On Chain shows that since November 2023, the bankrupt crypto exchange has unstaked 7.83 million SOL tokens. The assets were sold for $986 million at an average price of $125.80 per SOL.<\/p>\n