The Solana Whale, monitored by Arkham Intelligence under the entity name “SOL Scking Whale,” lost most of the profits it had made in 5 years in the recent market crash.
Initially, the whale invested about $26 million in assets. The total amount rose to $337 million over 5 years. However, the whales’ earnings and accumulation have dropped to around $26 million in the current market geopolitical drama.
Throughout the trading journey, the whale pulled SOL worth $137.67 million in market gains.
SOL whale loses millions amid market slump
As reported Arkham IntelligenceWhale currently holds a total of 399,327 SOL worth around $26.46 million at present.
According to Arkham details shared on Monday, the whale took its first position when the price of the token was at a completely different level compared to today.
With the SOL token on the rise, driven by heavy adoption of Solana in Decentralized financeFor NFTs and meme coins, the position jumped 12X.
Instead of taking all of their positions at once, the whale sold shares from time to time, earning approximately $137 million through progressive trading on Kraken and Binance.
The trader’s current position is 399,327 sol, worth approximately $26.45 million, given the current exchange rate of about $66 per sol. Small bets in lower tokens such as AISM, OZA and other tokens bring only a minimum total value.
The whale’s approach of signing tokens while extracting some gains helped de-risk the initial $26 million investment.
On-chain data tells an ongoing flow story: About $23 million worth of SOL has been sent to exchange deposit addresses over the past four months. This is in addition to bulk transfers ranging from 50,000 to 120,000 Sol, and switching from staking to exchanges.
$84M SOL Whale Transfer to Coinbase Impacts Markets
Another anonymous wallet transferred 1,350,000 Sol, worth approximately $84.06 million, to Coinbase Institutional. The action, which was discovered through cross-chain tracking, comes at a time when Solana is experiencing weak prices.
At the time of writing, Solana’s price is $66.09, struggling to maintain the important psychological support level of $66.
Interchange flow numbers also support the narrative of increased supply. according to queen glass, Spot flows were $48.32 million and $38.76 million in inflows and outflows, respectively, resulting in a net outflow of $9.56 million.
However, even with this additional supply, some purchases were made with tokens delivered to the network, thus avoiding any sudden collapse.
Futures traders also added to their positions despite weak prices. Open interest on futures rose 7.87% to $4.50 billion, indicating an influx of new money into the futures markets and expectations of volatility ahead.
ETF outflows and persistent bearish sentiment
Institutional demand shows weakness. The fund saw net redemptions of $6.52 million last week, ending a four-week rally, a trend noted by SoSoValue, raising concerns that continued outflows could add downward pressure on the asset.
Funding rate data supported the bearish outlook. Solana’s funding ratio fell into negative territory, reaching its lowest level since late February. The financing rate is -0.0192% (Pay-to-Purchase deals) at the time of writing. The buy/sell ratio is indicated at 0.95.
As reported CryptopolitanAnalysts still hold positive views on Solana after the recent decline. In 2026, they believe the coin will cost at least $55.65 on average, $139.73, and as high as $217.03.
In 2029, its price could rise further, reaching an average of $419.60, up from $307.31. Finally, in 2032, its price could range from an average of $351.97 to $580.21 and even $808.45.
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