A Solana whale holding $192 million in 1.32 million SOL tokens made a sale of $10.7 million by discarding their 100,000 SOL tokens simply half-hour again in keeping with on-chain information. This current transaction follows 15 days in the past when the whale unstaked 1.32 million SOL after which deposited 1.2 million SOL into Kamino earlier than borrowing 20 million USDC for market buying and selling.
A whale holding 1.32M $SOL($192M) simply offered 100,000 $SOL($10.7M) half-hour in the past.
15 days in the past, the whale unstaked 1.32M $SOL, deposited 1.2M $SOL into #Kamino, and borrowed 20M $USDC.
He doubtless offered $SOL to cowl the mortgage.https://t.co/2ucFr3IYiw pic.twitter.com/paOLh9dt4O
— Lookonchain (@lookonchain) April 9, 2025
Strategic Sale to Handle Debt
The whale made a calculated $10.7 million transfer by promoting 100,000 SOL tokens for $107 every which suggests a debt discount technique to repay 20 million USDC borrowed by Kamino. The Solana-based DeFi protocol Kamino offers companies that permit customers to deposit SOL property for stablecoin borrowings as a normal DeFi observe to realize leverage.
The whale executed a strategic asset disposition utilizing SOL tokens priced at $107 as a result of market fluctuations have resulted in Solana experiencing $70.03 million in liquidations whereas the asset worth declined since its peak.
Market Context and Solana’s Efficiency
Solana’s worth stays underneath stress as worry grips the broader crypto market when contemplating the current liquidations which point out warning (Concern & Greed Index at 18).
Solana’s ecosystem maintains energy regardless of market occasions as a result of its whole worth locked throughout liquid staking platforms reveals no vital change in keeping with current reviews.
The whale unstaked their Solana place and used it as collateral for borrowing 15 days in the past when market uncertainty surged, and the sale signifies they wanted to mitigate leveraged place dangers attributable to SOL worth declines.
Implications for Market
By unloading $10.7 million price of SOL the whale has elevated the promoting drive on this unstable asset whereas it already experiences market worth fluctuations. The whale’s ongoing place with 1.22 million SOL valued at $181 million presently held will likely be extensively monitored for potential affect on SOL’s short-term market motion.
DeFi lending and borrowing function at excessive stakes due to the unstable nature noticed in fashionable market situations.
