Solana Price Slips Below $100 as a Whale Sends $22M of SOL to Exchanges

The Solana price is back under $100, and this time there is a seller with a name, or at least an address. SOL trades at $99.73 at the time of writing, down 1.7% in 24 hours, after three linked wallets sent 224,430 SOL, about $22 million, toward exchanges since Saturday.

It is the fifth time this month that SOL has been pushed onto the $100 line. The last four held. The difference now is that the selling isn’t over: the same wallets still hold 269,694 SOL, about $27 million. So who is selling, and how much is left?

Lookonchain flagged the Solana whale early on Tuesday, when 171,430 SOL had already reached exchanges:

Lookonchain @lookonchain

Whales are dumping $SOL!

3 wallets, possibly belonging to the same whale, moved 482,228 $SOL ($49.17M) over the past 3 days to sell.

So far, they've deposited 171,430 $SOL ($17.3M) into exchanges.

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2:41 AM · Oct 27, 2026 View on X

Who Is the Solana Whale Selling SOL?

Nobody knows the name yet. The three wallets carry no label on Arkham, and they were created for the job: each got a 0.01 SOL test payment within two minutes of the others on Friday evening, October 23, and the full amounts about 90 minutes later. Together they received 494,124 SOL.

Their trail goes back further. We followed it on the Solana blockchain:

• About 321,000 SOL came out of staking. Six wallets each redeemed around 41,000 JitoSOL, a liquid staking token, on October 14 and withdrew the unlocked SOL on October 20.
• The other 172,639 SOL had sat still since February. Two wallets funded on February 6 and 8 hadn’t moved a coin until Friday.
• All eight pooled their SOL on October 23 into three middle wallets, which passed it on to the three new ones.

That timeline matters. Unstaking takes days on Solana, so whoever this is decided to cash out almost two weeks ago, when SOL still traded near $107.

How Much SOL Has the Whale Sold So Far?

So far 224,430 SOL has left the three wallets in 27 transfers, most of them round lots of 5,000 to 25,000 SOL. They went to eight deposit addresses that passed the coins on, mostly within minutes, to much bigger wallets: the classic pattern of exchange deposits. The largest of those wallets holds about 1.25 million SOL.

Selling sped up as the price slipped. The first 45,000 SOL left over the weekend. Monday brought about 147,000, and another 32,000 went out between 03:45 and 06:40 UTC on Tuesday morning, the last batch while SOL sat right on $100.

Then there is what’s left. The wallets hold 96,743, 85,639 and 87,312 SOL, and none of the three has sent anything since. Our check at the time of writing showed the same balances.

SIDE TRAIL: Solana Price Holds $100 Again: The SOL Levels That Decide the Next Move

Solana Price: Can $100 Hold a Fifth Time?

Not on Tuesday’s evidence so far. The SOL price dipped to $99.46 on Binance today, and a daily close under $100 would be the first since September 16, when it closed at $98.66.

Each low this month has come in a little deeper: $101.69 on October 13, $100.62 on October 15, $100.43 on October 18, a $98.62 wick on October 24 and $99.46 today. The 50-day moving average at $109.47 has turned into a ceiling, and the first resistance is the $107.36 swing high.

Below $100, the September lows at $97.38 and $95.82 are next. The 200-day moving average sits much lower, at $88.58.

Size matters here too. About $27 million is a small slice next to the $2.3 billion of SOL traded over the past day. But it is a known seller sitting right on the floor, and buyers can count it. If the wallets go quiet, the Solana price has a chance to hold $100. If the transfers resume on a close under $100, the September lows come into play.

TRAIL MAP: On-Chain Metrics That Matter: MVRV, Realized Price and Exchange Flows

Written by

TANG

In crypto since 2017. A technical trader with years of experience in DeFi and onchain data.

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