<p>On-chain data tracked by Arkham Intelligence has revealed that a notable <a href="https://en.coin-turk.com/solana-holds-firm-at-90-as-technical-signals-shape-next-moves/" rel="noopener noreferrer nofollow">Solana</a> staking wallet has seen most of its gains accumulated over five years wiped out by the recent market downturn. The investor originally took a position worth approximately $26 million, which soared to as high as $337 million at its peak. However, following the latest slide in Solana’s price, the wallet’s current holdings have dropped back to around $26 million, effectively erasing five years of growth.</p>
<h2 id="five-years-of-profits-nearly-erased">Five years of profits nearly erased</h2>
<p>Arkham Intelligence, a blockchain analytics firm known for monitoring wallet flows, reports that the wallet currently contains a total of 399,327 SOL. At a SOL price of approximately $66, these holdings are now valued at about $26.46 million.</p>
<blockquote>
 <p>According to Arkham Intelligence data, the wallet’s position in Solana increased twelvefold during the crypto’s bull run, but post-selloff, the portfolio has returned close to its original value.</p>
</blockquote>
<p>Rather than offloading the entire position at once, the investor opted for a phased sale strategy. During this process, about $137.67 million worth of SOL was sold via Kraken and Binance. This allowed the investor to largely protect the original $26 million principal, even as the value of remaining holdings sharply declined with the recent price drop.</p>
<p>Other assets in the wallet, such as AISM, OZA, and similarly small tokens, had minimal influence on the total value. The portfolio remained heavily weighted toward SOL throughout.</p>
<h2 id="large-transfers-directed-to-exchanges">Large transfers directed to exchanges</h2>
<p>On-chain activity over the past four months showed roughly $23 million in SOL moved to exchange deposit addresses. Significant transfers, ranging between 50,000 and 120,000 SOL, were withdrawn from staking pools and sent to centralized exchanges in this period.</p>
<blockquote>
 <p>Transferring approximately $23 million worth of SOL to exchange addresses within four months is seen as indicative of the investor’s risk reduction strategy and shift toward liquidity.</p>
</blockquote>
<p>Additionally, another anonymous wallet was reported to have moved 1,350,000 SOL (worth $84.06 million) to Coinbase Institutional. Coinbase Institutional offers custody and trading services to corporate clients.</p>
<table>
 <thead>
  <tr>
   <th>Indicator</th>
   <th>Data</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>Current wallet balance</td>
   <td>399,327 SOL</td>
  </tr>
  <tr>
   <td>Current value</td>
   <td>$26.46 million</td>
  </tr>
  <tr>
   <td>Past peak value</td>
   <td>$337 million</td>
  </tr>
  <tr>
   <td>Amount withdrawn via phased sales</td>
   <td>$137.67 million</td>
  </tr>
  <tr>
   <td>Coinbase Institutional transfer</td>
   <td>1,350,000 SOL, $84.06 million</td>
  </tr>
 </tbody>
</table>
<h2 id="weak-price-futures-and-fund-flows-persist">Weak price, futures, and fund flows persist</h2>
<p>At the time of reporting, Solana was priced at $66.09, struggling to hold just above the closely-watched $66 threshold. In the spot market, CoinGlass data revealed $48.32 million in inflows and $38.76 million in outflows, leading to a net positive flow of $9.56 million.</p>
<p>In the derivatives market, open interest climbed by 7.87% to $4.50 billion. Despite downward price pressure, this increase suggests continued capital inflows into derivatives and persistent market volatility expectations.</p>
<p>Institutional demand appeared to weaken. Data from SoSoValue shows that related funds experienced a $6.52 million net outflow over the past week, ending a four-week streak of gains. The funding rate turned negative, dropping to its lowest level since late February, reinforcing a cautious market sentiment. Specifically, the report cites a negative rate of 0.0192% and a long-to-short ratio of 0.95.</p>
<p>The post <a href="https://en.coin-turk.com/solana-wallet-tumbles-from-337m-peak-to-26m-in-crash/" rel="noopener noreferrer nofollow">Solana wallet tumbles from $337M peak to $26M in crash</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

Solana wallet tumbles from $337M peak to $26M in crash

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