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Solana whales person started selling their holdings aft a immense unlocking event. The unlock happened connected April 4, 2025, aft 4 whale wallets had staked 1.79 cardinal SOL tokens backmost successful April 2021.
At the time, those tokens were worthy astir $37.7 million. Fast guardant to the unlock, and the worth had changeable up to astir $206 million, representing a 446% increase.
Arkham Intelligence called it the “largest single-day unlock of staked SOL” and said it won’t hap again until 2028.
Solana tokens scheduled to beryllium unlocked | Source: Arkham Once the tokens were unlocked, the whales rapidly began to currency out. The 4 wallets sold implicit 420,000 SOL tokens, valued astatine astir $50 million.
A wallet sold adjacent to 260,000 SOL tokens for implicit $30 million, portion different wallets sold for astir $16 million. Even with this, the wallets inactive person astir 1.38 cardinal SOL tokens, valued astatine astir $160 cardinal astatine contiguous prices.
Meanwhile, this is coming arsenic SOL experiences a crisp driblet successful price. On April 2, the terms of SOL was $131.11, but it fell 12% to $114.66 wrong conscionable 2 days. This driblet successful terms adds to the attraction surrounding the whales’ sales. However, the token has recovered 6% contiguous and presently trades for $120. The Market headdress has besides surged by 6%, but the trading measurement has dropped by 40% to $4.2 billion.
The whales’ selling comes aft a akin lawsuit successful March, erstwhile the bankrupt speech FTX and its trading arm, Alameda Research, unlocked implicit 3 cardinal SOL tokens, worthy astir $431 million.
Since November 2023, FTX has unstaked 7.83 cardinal SOL tokens, totaling astir $986 cardinal successful income astatine an mean terms of $125.80 per SOL.
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