Solana whale unstakes $163M, raising sell-off concerns

A large Solana (SOL) staking position worth approximately $163 million has been unstaked from the network, U.Today reported. The transaction involved about 1.81 million SOL being moved from a single wallet and subsequently sent to multiple addresses. The move has sparked analysis that the funds could create selling pressure if they are transferred to exchanges. U.Today noted that the unstaking increases token liquidity, which could limit price appreciation in the short term. Meanwhile, SOL recently rebounded to $97 and is currently fluctuating around $90.