A Solana OG whale who staked 991,079 SOL five years ago has sold another 30,000 SOL (~$2.56 million) about 8 hours ago. This is part of a year-long distribution pattern, not a sudden dump.
Gradual Selling Over 12 Months
The wallet has sold a total of 965,274 SOL since it started selling roughly a year ago, capturing about $137.66 million at an average price of $143. Despite the large realized gains, the holder is not fully out: the address still has 381,140 SOL staked, worth around $32.4 million.
Market Absorbs Supply, SOL Up 0.65%
Transaction records show repeated deposits to Kraken in chunks of 30,000, 50,000, and 50,010 SOL — a deliberate, stepwise approach rather than a one-time crash. SOL is currently trading at $85.24, up 0.65% on the day. Market cap stands at $49.29 billion, with 24-hour volume of $3.35 billion. The price action indicates enough demand to offset the persistent sell pressure.
What Traders Are Watching
Key questions for traders: Will more staked SOL hit the market? Can the price continue absorbing large wallet sales? Or will buyers view this as normal profit-taking? The whale still holds meaningful exposure, so the distribution story is far from over. For now, the market is handling a large, patient seller without panic.