- A Solana whale exits staking with a $31.08M transfer to Coinbase, taking a net loss of $823K after earning 11,500 SOL in rewards.
- Blockchain data shows coordinated activity, as the whale unstaked 186,002 SOL days before depositing the full amount to Coinbase.
- The move suggests bearish sentiment or portfolio restructuring amid Solana’s price volatility and macroeconomic uncertainty.
A major Solana whale has transferred 186,002.69 SOL, valued at $31.08 million, to Coinbase after staking the tokens for nearly a year. Despite earning over 11,500 SOL in staking rewards, the investor still faced a net loss of $823,000.
Stake Exit Signals Bearish Outlook
The move was first reported by Onchain Lens, which stated in an update that “a whale has deposited 186,002.69 $SOL worth $31.08M into Coinbase after 10 months of staking.” The whale initially staked 174,479.2 SOL, valued at $31.9 million, and accumulated 11,540 SOL as rewards. Despite the passive income, the staking round closed with a significant loss.
Blockchain records confirm the transaction, showing that 186,002.6285 SOL was moved from wallet 8v6fC8D4KP…jWrNtrgnWi to Coinbase just an hour before the post. The large deposit suggests potential liquidation or custody transfer, likely triggered by recent market conditions.
Transfer Timeline Reveals Strategic Coordination
In another report by Onchain Lens on X, a sequence of transactions supports the theory of a premeditated stake exit. Three days before the Coinbase deposit, 186,002.61 SOL was unstaked and sent to the same wallet involved in the final transfer. This came directly from a staking address that had received the original 174,479 SOL ten months ago.
The staking wallet—7dzfkGYY2r…zURL6SoWq4—received funds from 8v6fC8D4KP…jWrNtrgnWi shortly after its creation. This cyclical wallet behavior reflects tightly controlled asset management, with consistent value around $31.9 million across entries.
High-Volume Wallet Signals Long-Term Strategy
Wallet 8v6fC8D4KP…jWrNtrgnWi has now been active for 10 months, interacting repeatedly with Coinbase-related addresses and the staking wallet. The whale’s activity centers entirely on SOL, reinforcing the address’s dedicated exposure to the Solana ecosystem.
Smaller SOL transactions from Coinbase Hot Wallets also appeared within the address’s activity log. Though minor in size, about 0.05 SOL each, they validate the address’s frequent interactions with centralized exchange infrastructure.
Market Environment May Have Prompted Liquidation
Simultaneously, other market indicators suggest a different trend. Solana has recently seen strong price movement, trading at $166.37 with a 24-hour high of $172. While staking offered rewards, the price drop from the original stake has impaired profitability.
The whale’s move could reflect a response to macro pressures or internal risk reassessment. It also hints at potential reshuffling ahead of a broader Solana market realignment.
