Whale wallets unstaked 1M SOL, worth $139M
$35M in SOL sent to Binance over three days
Sell pressure could impact SOL’s short-term price
Whale Wallets Move 1 Million SOL
Recent blockchain activity shows that two major wallets—2dqEsM and E7TuGh—unstaked 1 million SOL tokens, worth about $139 million, just nine days ago. Since then, they have transferred 240,000 SOL, valued around $35 million, to Binance over the last three days. Such transfers to centralized exchanges often signal intent to sell.
This isn’t an isolated case. Over the past month, several other large wallets have made similar moves, contributing to mounting speculation that institutions or crypto whales may be preparing to offload their holdings.
Signals of a Broader Sell-Off
Large holders transferring tokens to exchanges is widely seen as a bearish signal. In the case of Solana, this kind of activity has coincided with price drops in recent weeks. When SOL was nearing $150 earlier this month, whale movements triggered a sharp decline to the $110–$130 range.
The pressure may continue, as these whale wallets could still hold large amounts of unstaked SOL. If even a fraction of their total holdings are sold, the market could experience more downward pressure.
Are institutions/whales dumping $SOL?
Wallets 2dqEsM and E7TuGh unstaked 1M $SOL($139M) 9 days ago and deposited 240,000 $SOL($35M) to #Binance in the past 3 days.
Are institutions/whales dumping $SOL?https://t.co/AGEKzNTh7Khttps://t.co/AGEKzNTh7K pic.twitter.com/I46trAWaJ6
— Lookonchain (@lookonchain) June 30, 2025
Why Whales Are Selling
There are several reasons whales may be exiting their positions. Profit-taking is a common strategy—especially when tokens have appreciated significantly since being staked. Many early investors bought SOL at much lower prices, making this a strategic time to cash out. Additionally, token unlocks and fund rebalancing are typical during mid-year adjustments.
Despite this, not all whale movement indicates panic. Some of it may be simple portfolio management. Still, the volume and timing of these recent transactions suggest caution for retail investors.
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The post Whale Wallets Dumping SOL Amid $139M Unstake appeared first on CoinoMedia.
