Major Solana Whale Quietly Offloaded Over $99 Million of SOL So Far This Year.

Amidst the broader cryptocurrency market’s volatility, Solana ($SOL) has faced an additional headwind, a persistent sell-off by a significant whale or institutional holder that has already offloaded over $99 million worth of the cryptocurrency on the market.

According to on-chain analysis service Lookonchain, the potential institutional investor has been steadily offloading their SOL holdings through the year, adding selling pressure to the cryptocurrency.

Data shared by the service shows that the whale has sold 695,000 SOL tokens so far this year, and has been selling an average of 19,306 SOL, around $2.75 million, per week since the year started.

Notably, the whale still holds 1.88 million SOL tokens worth over $250 million, which are currently earning yield on the network while being staked.#CryptoMarketMoves $SOL