A whale wallet has sold off nearly $100 million worth of Solana (SOL) this year, according to the crypto tracker Lookonchain.
Lookonchain speculates that the unknown wallet could belong to an institution.
[adinserter block="1"]The crypto tracker notes it has hawked an average of 19,306 SOL worth $2.76 million every week since the beginning of 2024.
That totals 695,000 SOL worth $99.5 million for the year. The whale still has 1.88 million SOL worth $237.68 million staked, according to the Solana blockchain tracker Solscan.io.
SOL is trading at $126.28 at time of writing. The fifth-ranked crypto asset by market cap is down 7% in the past 24 hours.
Lookonchain also notes that a separate unknown whale wallet recently withdrew 1,100 Bitcoin (BTC) worth $64.26 million from a hot wallet associated with the top crypto exchange Binance.
BTC is trading at $56,729 at time of writing, down nearly 5% on the day.
The blockchain monitor also spotted an early investor in the decentralized finance (DeFi) protocol Aave (AAVE) taking on a massive loss after holding for as long as three years.
“An early AAVE holder sold all 17,447 AAVE ($2.16 million) [hours ago], losing $2.14 million!
This whale bought 17,447 AAVE ($4.3 million) from Binance on March 28th, 2021 and June 12th, 2023 at an average price of $246.”
At time of writing, AAVE is worth $123.03, down nearly 9% in the past day.
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