Hacking News
Solana Whale Quietly Dumping $49M
Three newly created Solana wallets have moved 482,228 SOL worth $49.17 million in three days, with about a third of it already reaching exchanges. The wallets, possibly belonging to a single whale, have been steadily selling SOL to contain slippage and avoid spooking order books. As of Oct. 27, the remaining $29 million is expected to be sent to exchanges, with the whale selling into weakness given that Solana is currently trading at $99.89, down 5% over seven days and 51% over the past year.