Solana Whale Sells 32K SOL at $2M Loss Amid Volatility
Lookonchain data show a Solana whale sold over 32,000 SOL across two recent transactions, realizing multi-million-dollar losses despite staking rewards. In November, address DYzF92 offloaded 33,366 SOL, yielding $4.71M but suffering a $230K net loss after earning 1,283 SOL in staking. Separately, whale GJwCUj disposed of 32,195 SOL for $4.18M, incurring a $2.04M loss on tokens staked ten months prior. These Solana whale selloffs underscore on-chain volatility and the risks of long-term staking amid price swings. Traders should monitor SOL price movements, staking data, and whale sell patterns for potential short-term volatility and longer-term trading opportunities.
Bearish
Large SOL selloffs by whales often increase token supply and can trigger short-term price declines, making this news broadly bearish for market sentiment. Both DYzF92 and GJwCUj realized significant losses despite staking rewards, signaling that even long-term holders face downside risks. The on-chain sell patterns underline potential volatility as traders may react with selling pressure to follow the whales’ lead. In the short term, SOL could see further downward pressure, though price may rebound once the sell wave subsides. Overall, these events underscore cautious trading, with bearish implications for SOL’s price stability.