Solana Slides to Worst Weekly Performance in Top 10 as Whales Step Up Sales

Kamina Bashir

Tue, May 19, 2026 astatine 7:42 AM CDT 2 min read

The broader crypto marketplace downturn has weighed heavy connected large integer assets. However, Solana (SOL) has emerged arsenic 1 of the steepest losers among the apical 10 cryptocurrencies by marketplace capitalization. 

Over the past week, SOL has declined astir 12%, underperforming its large-cap peers amid risk-off sentiment crossed markets.

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Solana Long-Term Holders Cash Out

While macro and geopolitical uncertainty person contributed to the decline, a question of whale selling has added further unit connected the asset.

Blockchain analytics level Lookonchain reported that a Solana holder who primitively staked 991,079 SOL much than 5 years agone precocious sold 30,000 SOL worthy astir $2.56 million.

According to the analytics firm, the whale began unwinding positions astir a twelvemonth agone and has since sold 965,274 SOL valued astatine astir $137.7 million. The wallet inactive reportedly holds 381,140 SOL, worthy astir $32.4 million, successful staking positions.

Another whale, "GyBRmk," cashed retired a ample information of the stack they had held for implicit 2 years.

Pump.fun Resumes SOL Sales After Nine-Month Pause

Selling unit has besides resurfaced from meme coin launchpad Pump.fun. After a nine-month silence, Pump.fun has restarted SOL outflows.

Lookonchain reported that the level deposited 174,408 SOL ($14.76 million) to Kraken and has apt already sold 117,877 SOL ($9.96 million).

The analytics level noted that a recently created wallet (35qaEz) withdrew the aforesaid magnitude of SOL from Kraken, sold it for 9.96 cardinal USDC astatine an mean terms of $84.52, and aboriginal deposited the stablecoins backmost onto the exchange.