Solana has experienced its largest single-day token unlock, with over $200 million worth of SOL entering circulation as investor interest in the network weakens. Blockchain analytics platform Arkham Intelligence reported that more than 1.3 million SOL tokens were released from staking on April 4, marking the biggest single unlock of staked SOL expected until at least 2028.
Key Details of the Token Unlock
- Initial Stake: Tokens were staked in April 2021 with a total value of $37.7 million.
- Current Value: Holders are up nearly fivefold at current market prices.
- Unstaked Tokens: Approximately 425,000 SOL ($50 million) were unstaked, with 280,000 SOL ($33 million) transferred to centralized exchanges like Binance, Coinbase, and Kraken.
This activity suggests some holders may be preparing to exit positions or take profits. The unlock follows another major release in March, when the FTX bankruptcy estate unlocked 11.2 million SOL worth $1.3 billion.
Decline in Solana Network Activity
Solana’s network activity has significantly declined since its peak earlier this year:
- DEX Volume: Dropped 80% to $52 billion in March from $250 billion in January.
- TVL: Halved from $12 billion to $6.4 billion.
Analysts attribute this to fading memecoin speculation, which has led to lower trading volumes and liquidity. SOL’s price reflects this trend, dropping 4% in the past day to ~$118 (after briefly hitting $112).
FAQs
Q: Why did Solana’s token unlock occur?
A: Tokens staked in April 2021 reached their unlock period, releasing $200 million worth of SOL.
Q: How has Solana’s network performance changed?
A: DEX volume and TVL have sharply declined due to reduced memecoin trading.
Q: Where were the unlocked tokens sent?
A: A portion was moved to exchanges like Binance and Coinbase, likely for selling.
👉 Explore Solana’s latest market trends
Data sourced from Arkham Intelligence, DeFiLlama, and CryptoSlate.
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