Solana whales have sold nearly $50 million of recently unlocked tokens.
Solana whales have offloaded their tokens to cash in on gains from a staking play that began four years ago.
In April 2021, four whale addresses staked 1.79 million Solana (SOL) tokens, then worth about $37.7 million. The stake was unlocked on April 4, in what Arkham Intelligence called “the largest single-day unlock of staked SOL.” The firm noted that the next similar unlock is not expected until 2028.
At the time of the unlock, the tokens were valued at roughly $206 million, representing a 446% gain from the initial staking period.
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