Solana Experiences 15% Price Drop Following Significant Profit-Taking Activity
On-chain data indicates significant profit-taking among investors on the Solana network before its recent price retracement.
Key Highlights
- Solana's Realized Profit spiked recently, indicating high investor selling activity.
- The Realized Profit metric tracks profits from sales based on previous transaction prices.
- A derivative metric, Realized Profit by Age, shows the distribution of realized profits across different coin age bands.
- A notable spike in Realized Profit occurred after SOL's price rose towards $180 following President Trump's announcement of a Crypto Strategic Reserve including SOL.
- The peak profit realization reached over $257 million, marking one of the largest events in recent months.
- 99% of this profit (approximately $255 million) came from coins held for 1 day to 1 week, suggesting rapid gains from last week's dip buyers.
SOL Price Update
Following the profit-taking selloff, Solana's price has declined back to $136.