Solana Slides to Worst Weekly Performance in Top 10 as Whales Step Up Sales
The broader crypto market downturn has weighed closely on main digital property. However, Solana (SOL) has emerged as one of many steepest losers among the many high 10 cryptocurrencies by market capitalization.
Over the previous week, SOL has declined roughly 12%, underperforming its large-cap friends amid risk-off sentiment throughout markets.
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Solana Long-Term Holders Cash Out
While macro and geopolitical uncertainty have contributed to the decline, a wave of whale promoting has added additional strain on the asset.
Blockchain analytics platform Lookonchain reported {that a} Solana holder who initially staked 991,079 SOL greater than 5 years in the past recently sold 30,000 SOL price roughly $2.56 million.
According to the analytics agency, the whale started unwinding positions roughly a yr in the past and has since bought 965,274 SOL valued at practically $137.7 million. The pockets nonetheless reportedly holds 381,140 SOL, price round $32.4 million, in staking positions.
Another whale, “GyBRmk,” cashed out a big portion of the stack they’d held for over two years.
Pump.enjoyable Resumes SOL Sales After Nine-Month Pause
Selling strain has additionally resurfaced from meme coin launchpad Pump.enjoyable. After a nine-month silence, Pump.enjoyable has restarted SOL outflows.
Lookonchain reported that the platform deposited 174,408 SOL ($14.76 million) to Kraken and has seemingly already bought 117,877 SOL ($9.96 million).
The analytics platform famous {that a} newly created pockets (35qaEz) withdrew the identical quantity of SOL from Kraken, bought it for 9.96 million USDC at a mean worth of $84.52, and later deposited the stablecoins again onto the change.
“Previously, from May 19, 2024, to Aug. 12, 2025, Pump.enjoyable bought a complete of 4.19M SOL ($757M) at a mean worth of $181,” the post learn.
Whale exercise arrives alongside an institutional retreat. Goldman Sachs’ latest 13F filing with the SEC reveals the financial institution totally exited its spot Solana and XRP ETF positions in Q1 2026.
The mixture of large-scale whale distributions, renewed promoting from ecosystem members, and institutional outflows has added to bearish sentiment surrounding Solana as the broader crypto market struggles to regain momentum.
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The publish Solana Slides to Worst Weekly Performance in Top 10 as Whales Step Up Sales appeared first on BeInCrypto.
