According to Lookonchain data, SkyAI, which previously held 2 million SOL (approximately $214 million), has recently engaged in significant selling. SkyAI disclosed that it has already sold 1 million SOL (approximately $107 million) and indicated that further reductions may follow. On-chain data shows that SkyAI has transferred a total of 1.57 million SOL (approximately $175 million) during October. The institution’s average cost basis is around $194, resulting in an unrealized loss exceeding $160 million.
SkyAI sells 1.07 million SOL, suffering over $160 million in losses
TechFlowShare
Summary
According to Lookonchain, SkyAI sold 1.07 million SOL, with an additional 1.57 million SOL moved in October. The firm’s average cost is $194, and its unrealized loss now exceeds $160 million. Traders are monitoring altcoins closely amid shifting market conditions, as recent inflation data has also impacted broader crypto sentiment.
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