Solana Whale Unstakes $30 Million in SOL Amid Market Correction

Solana Validator Unstakes a Large Amount of SOL

A Solana validator recently unstaked a significant amount of SOL amidst a mild market correction. On-chain data reveals that the validator unstaked 200,000 tokens valued at around $30 million over the past three days.

History of Price Fall

Previous unstaking events by the same validator resulted in a substantial sell-off of 1.2 million SOL in June and July, leading to a price drop from $170 to $125 in less than three weeks.

Market Sentiment and Price Action

Sentiment around Solana has been on a downward trend, with social platforms reflecting a neutral sentiment currently. Despite the recent market correction, SOL has maintained a price level around $150 with a 9% increase over the past week.

Price Analysis and Trading Volume

SOL’s daily trading volume has decreased by 33% to $1.9 billion, while the Relative Strength Index indicates a neutral zone for Solana’s price movement. As long as the broader crypto market remains positive, a significant price decline for SOL is unlikely.