“Whales are unstaking and dumping SOL like it’s a Black Friday sale,” blockchain sleuths at Lookonchain reported on April 4. Because nothing says ‘financial stability’ like a fire sale, right? 🐋🔥
They spotted four transactions worth over $3 million each, with the pièce de résistance being a casual $30 million dump. Because why not? When you’re a whale, you don’t just dip your toe in the water—you cannonball. 💦
This selloff is apparently the result of the meme coin bubble popping harder than a teenager’s acne. SOL has plummeted 60% in two months, proving that even blockchain isn’t immune to gravity. 📉
Whales are unstaking and dumping $SOL like it’s their ex’s hoodie. 🐋💔
HUJBzd dumped 258,646 $SOL ($30.3M).
BnwZvG dumped 80,000 $SOL ($9.47M).
8rWuQ5 dumped 30,000 $SOL ($3.53M).
2UhUo1 dumped 25,501 $SOL ($3M).
Address:… (because privacy is dead anyway).
— Lookonchain (@lookonchain) April 4, 2025
Oh, and as if that wasn’t enough, $200 million worth of SOL was unlocked on the same day. Because when it rains, it pours. 🌧️ Arkham Intelligence called it “the largest single-day unlock of staked SOL until 2028.” So, mark your calendars, folks! 🗓️
CoinNess Global chimed in with the details: 425,266 SOL ($50 million) was unlocked, and 284,147 SOL ($33 million) was sent to exchanges like Binance, Kraken, and Coinbase. Because nothing says ‘panic’ like a mass exodus to the nearest exit. 🏃♂️💨
Token unlocks are basically the crypto equivalent of opening Pandora’s box—short-term bearishness guaranteed. The circulating supply of SOL is now 514 million, which is a lot of tokens to drown in. 🌊
$200M OF SOL UNLOCKING TOMORROW. 🚨
Tomorrow (4th April) marks the largest single-day unlock of staked SOL until 2028.
These 4 accounts staked a total of $37.7M of SOL in April 2021, and are up 5.5x at current prices. 🤑
— Arkham (@arkham) April 3, 2025
Meanwhile, Ripple decided to join the party by unlocking $1 billion worth of XRP. Because why should Solana have all the fun? XRP dipped below $2 on April 3, because nothing says ‘market confidence’ like a nosedive. 📉
Other tokens like Sui also got in on the action, tanking almost 10% today. It’s like a crypto version of ‘The Floor is Lava,’ except the floor is actually your portfolio. 🔥
SOL prices dropped over 4% in a day, which is worse than the rest of the market. It hit a low of $112 before bouncing back to $118. Because nothing says ‘volatility’ like a rollercoaster ride without a seatbelt. 🎢
Over the past week, SOL has tanked 16%, while the broader crypto market only fell 6.5%. So, SOL is basically the overachiever of the dumpster fire club. 🏆🔥
The Solana blockchain, known for its meme coin minting and trading, is now seeing activity and network revenue slump. Because when the meme bubble bursts, it’s not just the coins that go pop—it’s the whole ecosystem. 🎈💥
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2025-04-04 13:25