The Solan Whale, which holds $192 million with 132 million sol tokens, sold $10.7 million by discarding 100,000 sol tokens just 30 minutes ago, according to on-chain data. This recent transaction borrowed 20 million USDC for market transactions after the whales lifted 132 million SOLs 15 days ago and subsequently deposited 1.2 million SOLs on the Camino.
1.32m $SOL ($192M), which sold $100,000 Sol ($107m) 30 minutes ago, sold 30 minutes ago.
15 days ago, the whales had a 1.32m $sol, deposited 1.2m $SOL in #Kamino and borrowed 20M $USDC.
He probably sold $ sol and covered loan.https://t.co/2ucfr3iyiw pic.twitter.com/paolh9dt4o
– lookonchain (@lookonchain) April 9, 2025
Strategic sales to manage your debt
The whales made the calculated $10.7 million move by selling $100,000 Sol Tokens for $107 each. Solana-based Defi Protocol Kamino offers a service that allows users to deposit SOL assets from Stablecoin borrowing as a standard Defi practice for leverage.
The whales performed strategic asset disposals using a price of $107 using Sol Tokens as Solana experienced a $70.03 million liquidation due to market fluctuations and their asset value declined since peak.
Market context and Solana’s performance
Solana prices are under pressure as fear grasps the broader crypto market, given the recent liquidation that shows caution (Fear & Greed Index of 18).
The Solana ecosystem remains strong despite market events, as the total locked value between liquid staking platforms does not show significant changes, according to recent reports.
The whale unlocks Solana’s position and uses it as collateral to borrow when market uncertainty surges 15 days ago, indicating that sales need to mitigate leveraged location risk caused by lower sol prices.
Impact on the market
By unloading $10.7 million worth of sols, the whales have increased the sales power of this volatile asset while already experiencing market price fluctuations. The ongoing location of whales with 122 million SOLs worth $181 million will be monitored by spreading potential impacts on SOL’s short-term market movement.
Due to the instability nature observed in modern market conditions, receivables and borrowings operate at a high stake.
