$107 Million in SOL Sold: Whale Down More Than $160 Million May Keep Selling

SkyAI announced that it sold 1 million Solana (SOL) worth approximately $107 million and could continue selling, while Lookonchain reported that its total losses exceeded $160 million.

According to information shared by on-chain analytics platform Lookonchain on October 13, SkyAI, which had previously been reported to hold 2 million SOL, has recently ramped up its sales. The announced sale of 1 million SOL represents half of that amount.

SkyAI’s statement that it could make further sales has also raised questions about its plans for its remaining SOL holdings following the transaction.

Average purchase price was $194

Lookonchain reported that SkyAI bought SOL at an average price of around $194 and that its losses exceeded $160 million. The post did not break down the realized and unrealized portions of those losses.

On-chain data shows that a total of 1.57 million SOL left SkyAI in October. These transfers were valued at approximately $175 million.

The announced sale was 1 million SOL, while the total amount leaving the wallets was 1.57 million SOL; there is no information indicating that the entire transferred amount was sold.