It was reported that a Solana staking wallet monitored by Arkham Intelligence gave back most of the earnings it had accumulated in five years with the recent market decline. According to on-chain data, the investor initially took a position with approximately $26 million in assets. This amount rose to $337 million over time, but with the latest decline, the current asset value dropped again to approximately $26 million.
Five years of savings have been largely wiped out
Arkham Intelligence is known as an analytics company that tracks blockchain data and tags wallet movements. According to the data shared by the company, there is currently a total of 399,327 SOL in the wallet in question. The current value of these assets is estimated at $26.46 million at an exchange rate of approximately $66 per SOL.
Arkham Intelligence data showed that the wallet in question grew its position 12-fold during the rise in Solana, and after the recent sales and price drop, its portfolio value approached its initial level.
According to the data, the investor preferred gradual sales instead of closing his entire position at once. In this process, approximately $137.67 million worth of SOL was withdrawn from the market through transactions made through Kraken and Binance. Thus, while the initial $26 million principal was substantially protected, the market value of the assets held eroded in the last sharp decline.
It was stated that AISM, OZA and similar smaller token positions in the wallet have a limited impact on the total value. It was observed that the main weight continued to remain in SOL assets.
Transfers to stock exchanges attracted attention
On-chain transactions showed that approximately $23 million worth of SOL was sent to exchange deposit addresses in the last four months. It was noted that during this period, large transfers ranging from 50,000 SOL to 120,000 SOL were removed from staking pools and moved to central exchanges.
The transfer of approximately $23 million worth of SOL to exchange addresses in the last four months stood out as a signal that strengthened the investor’s tendency to reduce risk and switch to liquidity.
It was also reported that another anonymous wallet moved 1,350,000 SOL to the Coinbase Institutional address. The total size of this transfer was calculated as 84.06 million dollars. Coinbase Institutional operates as a unit that provides custody and transaction services to corporate customers.
| Indicator | Data |
|---|---|
| Current wallet balance | 399,327 LEFT |
| current value | $26.46 million |
| Past peak value | $337 million |
| Amount withdrawn from incremental sales | $137.67 million |
| Coinbase Institutional transfer | 1,350,000 SOL, $84.06 million |
Price, futures and fund flows remained weak
According to the data in the news, Solana price was at $ 66.09 at the time of writing and was trying to hold on just above the $ 66 threshold, which the market closely watched. In the spot market, CoinGlass data showed an outflow of $38.76 million against an inflow of $48.32 million. Thus, the net flow was recorded as 9.56 million dollars.
On the futures side, the open position size increased by 7.87 percent to 4.50 billion dollars. This picture indicated that despite the price pressure, new money inflows into derivative markets continued and volatility expectations remained alive.
It was observed that demand on the corporate side had weakened. According to SoSoValue data, the relevant fund experienced a net outflow of $6.52 million last week, ending its four-week upward streak. The fact that the financing rate fell into the negative zone and fell to the lowest level since late February also supported the cautious outlook in the market. The news stated that this rate is minus 0.0192 percent and the long-short rate is 0.95.
