{"id":126477,"date":"2025-04-04T14:20:30","date_gmt":"2025-04-04T14:20:30","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=126477"},"modified":"2025-04-04T14:20:30","modified_gmt":"2025-04-04T14:20:30","slug":"solana-whales-begin-offloading-sol-amid-200m-staking-unlock","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=126477","title":{"rendered":"Solana whales begin offloading SOL amid $200M staking unlock"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsSolana whales have offloaded their tokens to cash in on gains from a staking play that began four years ago.\u00a0<br \/>\nIn April 2021, four whale addresses staked 1.79 million Solana (SOL) 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.<br \/>\nAt the time of the unlock, the tokens were valued at roughly $206 million, representing a 446% gain from the initial staking period.<br \/>\nSolana tokens scheduled to be unlocked on April 4. Source: ArkhamSolana whales sold nearly $50 million<br \/>\nAfter the tokens were unlocked, the whales started to dump 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<br \/>\nFollowing the unlock, blockchain analytics firm Lookonchain said 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<br \/>\nArkham data shows that the four wallets still hold about 1.38 million SOL tokens worth roughly $160 million.\u00a0<br \/>\nThe 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<br \/>\nSolana token seven-day price chart. Source: CoinGeckoRelated: Babylon users unstake $21M in Bitcoin following token airdrop<br \/>\nFTX wallets unstaked $431 million in SOL<br \/>\nThe unstaking event by four whale wallets follows another large unlock, by bankrupt crypto exchange FTX and its trading arm, Alameda Research.\u00a0<br \/>\nOn March 4, FTX and Alameda wallets unstaked over 3 million Solana tokens worth about $431 million. The event was FTX\u2019s largest SOL unlock since it started selling its tokens in November 2023.\u00a0<br \/>\nData 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.<br \/>\nMagazine: XRP win leaves Ripple a \u2018bad actor\u2019 with no crypto legal precedent set<a href=\"https:\/\/cointelegraph.com\/news\/solana-whales-200-million-staking-unlock?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsSolana whales have offloaded their tokens to cash in on gains from a staking play that began four years ago.\u00a0 In April 2021, four whale addresses staked 1.79&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126477"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=126477"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/126477\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=126477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=126477"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=126477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}