A whale wallet has sold nearly $100 million worth of Solana (SOL) this year, according to crypto tracker Lookonchain.
Lookonchain speculates that the unknown wallet may belong to an institution.
The crypto tracker notes that it has sold an average of 19,306 SOL worth $2.76 million each week since the start of 2024.
That’s a total of 695,000 SOL worth $99.5 million for the year. The whale still has 1.88 million SOL worth $237.68 million at stake, according to Solana blockchain tracker Solscan.io.
SOL is trading at $126.28 at the time of writing. The fifth-largest crypto asset by market cap has fallen 7% in the last 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 major cryptocurrency exchange Binance.
BTC is trading at $56,729 at the time of writing, down nearly 5% on the day.
The blockchain monitor also spotted an early investor in decentralized finance (DeFi) protocol Aave (AAVE) suffering a massive loss after holding the stock for three years.
“An early AAVE holder sold all 17,447 AAVE ($2.16 million) (a few hours ago), losing $2.14 million!
This whale purchased 17,447 AAVE ($4.3 million) on Binance on March 28, 2021 and June 12, 2023 at an average price of $246.
At the time of writing, AAVE is worth $123.03, down nearly 9% over the past day.
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