Solana’s price performance remains extremely weak amid the recent market volatility, and movements by traders, especially large holders, continue to attract market watchers’ attention.
Recently, a large-scale transaction by an unidentified whale became a hot topic in the crypto community, with the transaction amount exceeding 2.6 million people $SOL Staking has been unlocked on the Solana blockchain.
Over 2.6 million $SOL return to circulation
On Thursday, April 2, blockchain monitoring company Whale Alert announced that data A total of 2,665,137 was revealed. $SOL Over $211 million worth of previously staked tokens were unlocked within minutes.
While this move is not unusual in the Solana ecosystem, it is important to note that the initial staking of an asset is intended to ensure the safety of the network and signals holders’ confidence in the future potential of the asset.
However, the unlocking of these tokens has raised concerns among investors as it suggests that holders have lost their desire to commit their tokens to securing the network and have liquidated their tokens, perhaps in preparation for a sale.
Further data disclosed by this source shows that the unlocking of stake took place in two separate transactions when Solana was trading at around $79.
Solana price drops by 5%
The token was unlocked by Solana The price is trading in deep red territory, suggesting that a downward price trend may have been the main trigger behind this move.
Despite this, Solana is still declining at the time of writing, trading at $77. This represents a 6.52% drop in price over the past day.
