A major whale or potentially an institutional entity has turned bearish on Solana as it has steadily sold off large amounts of $SOL throughout the year. In 2024, the total amount sold accounts for 695,000 $SOL ($99.5 million) since January 1st. Maintaining a disciplined selling routine, the average rate comes at 19,306 $SOL ($2.76 million) per week, nearly reaching $100 million in total.
Despite these substantial sales, the whale/institution still holds a significant position. Currently, it withholds 1.88 million $SOL ($255.89 million) staked.
