Whales Sell Solana as Goldman Exits; SOL Posts Worst Week

Large Solana holders sold 965,274 SOL over the past year while Pump.fun moved 174,408 SOL to Kraken and Goldman Sachs fully exited spot Solana and XRP ETF positions in the first quarter of 2026. SOL fell about 12% over the past week, the steepest weekly decline among the top 10 cryptocurrencies by market capitalization.

Blockchain analytics firm Lookonchain reported that a long-term holder who originally staked 991,079 SOL more than five years ago began unwinding positions roughly a year ago and has sold 965,274 SOL, valued at about $137.7 million. The wallet sold 30,000 SOL most recently and still holds approximately 381,140 SOL in staking positions, worth about $32.4 million at current prices.

Another trader identified as GyBRmk liquidated 21,911 SOL after holding for more than two years. Lookonchain’s data show the trader accumulated roughly 20,200 SOL over the prior two years at an average near $144, earned about 1,711 SOL in staking rewards, and realized a loss of about $1.05 million on the liquidation.

Pump.fun resumed SOL outflows after a nine-month pause. The platform deposited 174,408 SOL, roughly $14.76 million, to Kraken and likely sold 117,877 SOL for about $9.96 million at an average price of $84.52 per token. Lookonchain noted Pump.fun had previously sold about 4.19 million SOL, or roughly $757 million, between May 19, 2024 and Aug. 12, 2025 at an average price near $181.

Goldman Sachs’ latest 13F filing with the SEC shows the bank fully exited its spot Solana and XRP ETF positions in Q1 2026. The 13F disclosure removes an institutional position that had been listed among the bank’s holdings for prior quarters.

On-chain sales and the 13F filing coincided with weaker price action for SOL over the past week. Market participants have also cited broader market uncertainty, including macroeconomic and geopolitical developments, as factors that have affected risk assets.

Solana’s staking model allows holders to lock tokens while earning rewards. Lookonchain’s data show some wallets that have sold balances still retain tokens in staking positions, reflecting partial unwinding rather than complete exits from earlier staked holdings.

The recent distributions from large addresses and platform wallets mark a return to higher selling activity after months of slower outflows. Traders and analysts are monitoring on-chain flows and quarterly institutional filings for further signs of whether the selling will continue to affect Solana’s price.