SkyAI transferred 1.57 million SOL—valued at $175 million—in October, according to on-chain data, selling at a steep discount to its average purchase price of approximately $194 per token.
The entity acquired its 2 million SOL position at a total value of $214 million. Recent sales in the $107 to $111 range leave it holding roughly 430,000 SOL with unrealized losses exceeding $160 million.
SkyAI publicly disclosed selling 1 million SOL valued at $107 million, a disclosure that aligns with on-chain outflows tracked throughout October. The entity has indicated it may continue liquidating its remaining position.
Selling pressure of this magnitude from a single large holder can compress SOL liquidity during periods of thin trading.
