Time to Sell Solana (SOL)? Whales Unstake Millions Amid Price Drop

The post Time to Sell Solana (SOL)? Whales Unstake Millions Amid Price Drop appeared first on Coinpedia Fintech News

SOL, the native token of the Solana blockchain, appears to be attracting considerable attention from crypto enthusiasts following its recent decline. According to Coinmarketcap data, SOL has seen a significant price drop of over 20% in the past 24 hours and is currently trading near $137.

Following this bearish price momentum, a crypto whale who has been holding SOL since it was trading at $43 has unstaked 79,530 SOL tokens worth $10.39 million, according to on-chain analytics firm EyeOnChain on X (formerly Twitter).

The post also noted that this whale had previously withdrawn nearly 200,000 SOL tokens worth $8 million from Binance and staked them. However, as the price continues to decline, he now appears to be dumping and partially booking profits.

Another whale is saying goodbye to $SOL .
3 hours ago, a whale #unstaked 79,530 SOL ($10.86M).

Back on Nov 8, 2023, they withdrew 200K SOL ($8.6M) from Binance and staked it when SOL was just $43. pic.twitter.com/keIsChVaof