Lookonchain
SkyAI (@skyaico), a wallet that once held 2 million SOL worth roughly $214 million, has been aggressively selling Solana. The entity disclosed it recently sold 1 million SOL for about $107 million and signaled it may continue dumping.
Why it matters
On-chain data shows SkyAI transferred out 1.57 million SOL, roughly $175 million, in October alone. The wallet's average purchase price was around $194 per SOL, meaning it is currently sitting on realized and unrealized losses exceeding $160 million.
Market impact
A forced or capitulatory seller of this size adds steady overhead supply to the SOL order book, and the disclosure that further sales may follow keeps that overhang live. Traders will be watching whether SkyAI keeps distributing the remaining position, as continued outflows from the same address would extend the pressure on Solana price action.
Frequently asked questions
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How much SOL has SkyAI sold recently?
SkyAI disclosed it sold 1 million SOL for roughly $107 million recently, and indicated it may continue selling.
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What was SkyAI's average Solana purchase price?
On-chain data shows SkyAI bought at an average price of around $194 per SOL, leaving it with losses exceeding $160 million.
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How much SOL did SkyAI move in October?
On-chain transfers show SkyAI moved 1.57 million SOL, worth about $175 million, out of its wallets during October.
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How much SOL does SkyAI still hold?
SkyAI originally held 2 million SOL valued near $214 million before beginning its recent heavy selling.
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What does SkyAI's selling mean for Solana's price?
Large ongoing sales from a single wallet add overhead supply to the SOL order book, and the stated possibility of further selling keeps that pressure active.
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