An anonymous wallet sold 1.02 million SOL over five days. The sale ended Oct. 29, 2026, and totaled $104.3 million1. Lookonchain, the blockchain analytics account, tracked it and posted the number hours after Solana's price slid under $1003. SOL traded at $99.71 at 8:11 UTC that same day, down 2.1 percent in 24 hours. A separate retreat landed the same week. Investors pulled $24.82 million from Solana's spot ETFs on Oct. 27 and 28, funds that hold SOL itself and trade on US stock exchanges. SOL had already fallen 15.41 percent over the past month and 48.77 percent over the past year.
Lookonchain@lookonchainA mysterious whale has dumped 1.02M $SOL ($104.3M) over the past 5 days!https://t.co/zZFhaOfFX1 pic.twitter.com/aboZKnF81y
A Wallet Empties Into Exchanges
Lookonchain posted its report at 5:52 UTC on Oct. 29, 20261. It named one wallet. The blockchain analytics platform Arkham tracks that wallet's balance. “A mysterious whale has dumped 1.02M $SOL ($104.3M) over the past 5 days!” the account wrote. TokenPost's Enna Lee confirmed the same total the same day2. She reported the sale ran across five days. It came to roughly $104.3 million. Her report carried little added detail beyond those figures. Crypto.news ran the fuller account, setting the sale beside Solana's own price chart3.
The sale is small next to Solana's own supply. SOL's circulating supply sat at 589.98 million tokens on Oct. 293. The wallet's 1.02 million SOL equaled about 0.17 percent of that total, a small slice of the whole. Its owner stays a mystery. Lookonchain left that person, that company or that fund unnamed1.
Arkham is the platform behind Lookonchain's count. It links wallet addresses on the public blockchain to labels its community assigns. That method let Lookonchain count the wallet's balance and its deposits1. Lookonchain did this before any exchange or regulator filed a report of its own. The method works on any wallet with a public address. That holds for a named owner and an anonymous one alike. A seller who stays silent still shows up on the ledger.
Both sides, in their own words
Did a single seller move a market that trades $2.93 billion a day?
“A mysterious whale has dumped 1.02M $SOL ($104.3M) over the past 5 days!”
“SOL is trading around $102, testing a descending resistance trendline on the 4H chart. Price has repeatedly faced rejection at this trendline, while buyers continue defending the $96–$100 support zone. A confirmed breakout above $104-$105 could open the door toward $108-$112”
The Chart Behind the Slide
SOL's price carried the sale's weight. The token traded at $99.71 at 8:11 UTC on Oct. 29, 20263. That is down 2.1 percent over 24 hours and 15.41 percent over the past month. Its market capitalization held near $58.83 billion that same hour. Daily trading volume ran about $2.93 billion. The seven-day relative strength index read 34.81. That sits under the neutral mark of 50, which separates buying pressure from selling pressure. The token's Bollinger Bands framed the week too, running from $98.73 on the low side to $110.19 on the high side. Solana's Alpenglow consensus upgrade activated Oct. 21, 2026. It aimed at transaction finality near 150 milliseconds. The upgrade preceded the slide by more than a week.
CryptoBusy, a chart analyst who posted a technical read of SOL on Oct. 28, 2026, still saw buyers defending the level. “SOL is trading around $102, testing a descending resistance trendline on the 4H chart. Price has repeatedly faced rejection at this trendline, while buyers continue defending the $96–$100 support zone. A confirmed breakout above $104-$105 could open the door toward $108-$112,” CryptoBusy wrote3.
ETFs Have Their Worst Two Days Since December
Solana's spot ETFs lost $24.82 million combined on Oct. 27 and 28, 20263. The first day alone cost $19.16 million. That was the worst single-day withdrawal those funds had seen since Dec. 3, 2025. Oct. 28 added $5.66 million more. October's combined outflows passed $105 million before the month closed. That is more than four times the two-day total alone.
Solana Whale Sold $104.3M, 4 Times the ETFs' 2-Day Exit by Oct. 29, 2026
Five-day whale sale versus two-day Solana ETF net outflows, in millions of dollars
- Whale, 5 days: $104.3M
- ETFs, 2 days: $24.82M
Sources: X (Lookonchain, @lookonchain) [1]; crypto.news [3].
Read the chart as a table
| Item | Value |
|---|---|
| Whale, 5 days | $104.3M |
| ETFs, 2 days | $24.82M |
The funds still carry far more money than they lost that week. Cumulative net inflows into Solana's spot ETFs stood at $1.51 billion since launch3. That held even after October's withdrawals topped $105 million for the month. Net assets across the funds held at $1.56 billion as of Oct. 28.
Two Reads on the Same Five Days
Lookonchain's report treated the wallet's sale as the week's notable development. That is the kind of move its platform exists to surface. “A mysterious whale has dumped 1.02M $SOL ($104.3M) over the past 5 days!” the account wrote, leaving the owner and the motive unnamed1.
CryptoBusy read the same five days through the chart alone, and found the support line still held. “SOL is trading around $102, testing a descending resistance trendline on the 4H chart. Price has repeatedly faced rejection at this trendline, while buyers continue defending the $96–$100 support zone. A confirmed breakout above $104-$105 could open the door toward $108-$112,” the analyst wrote on Oct. 28, 20263. That reading skipped any cause for the pressure on price. It named only the levels buyers and sellers were testing.
Solana's Slide Ran From Oct. 21's Upgrade to $99.71 on Oct. 29, 2026
Dated events in Solana's run toward a price under $100, Oct. 21 to 29, 2026
Sources: X (Lookonchain, @lookonchain) [1]; crypto.news [3].
Read the chart as a table
| Date | Event |
|---|---|
| Oct. 21, 2026 | Alpenglow upgrade activates |
| Oct. 27, 2026 | Worst ETF outflow since Dec. 3: $19.16M |
| Oct. 28, 2026 | ETFs lose $5.66M more |
| Oct. 29, 2026 | SOL at $99.71, whale sale hits $104.3M |
On-chain tools name a figure within minutes of a transfer landing. That is long before any filing describes who moved it. ETF flows arrive on a lag. They get tallied once a trading day closes. That lag is part of why one wallet's deposit reads as more dramatic than a fund's outflow. The fund's number can still tell the broader story.
A reader keeping score gains more from the ETF tally than from the wallet's next move. Fund flows name real buyers and sellers who filed real paperwork to enter and exit. The wallet's owner stays anonymous. It shows up only as a balance that keeps falling.
Whales Had Company This Week
Lookonchain posted a second report on Oct. 29, 20264. This one covered Hyperliquid's own token. A wallet sold 694,310 HYPE, worth $53.27 million, over the same five-day span. PANews confirmed the total and the window the same day5.
Hyperliquid's own supply moved on a different track that week. Onchain Lens reported the exchange had permanently burned 49.87 million HYPE67. That token pile was worth about $3.89 billion. It equaled 4.99 percent of HYPE's 1 billion token maximum supply. The same report named two more figures. Onchain Lens counted $1.69 million in fees over the prior 24 hours, and $1.38 billion in lifetime revenue since the exchange opened. A burn of that kind retires tokens for good, while a sale only moves tokens an owner already held to a new buyer.
Onchain Lens@OnchainLensHYPERLIQUID BURNS NEARLY 5% OF $HYPE SUPPLY@HyperliquidX has permanently burned 49.87M $HYPE (~$3.89B), representing 4.99% of its 1B max supply.
· Past 24h: 19.7K $HYPE (~$1.59M) burned
· Estimated 24h fees: $1.69M
· Lifetime revenue: $1.38B pic.twitter.com/Vk3A2bgshj
The two events stand apart from Solana's own five days. SOL and HYPE trade on separate chains, with separate holders and separate markets. The pattern worth watching is simpler. Large, anonymous wallets moved real money on two different networks in the same week. Both showed up on trackers before either token's team said a word.
By the numbers
- 1.02 million SOL ($104.3 million): the wallet's five-day sale, tracked by Lookonchain and confirmed by TokenPost12.
- $99.71: SOL's price at 8:11 UTC on Oct. 29, 2026, down 2.1 percent in 24 hours3.
- $24.82 million: combined Solana ETF outflows on Oct. 27 and 28, 2026, the worst two-day stretch since Dec. 3, 20253.
- $58.83 billion: Solana's market capitalization at 8:11 UTC on Oct. 29, 20263.
- $53.27 million: a second wallet's five-day sale of 694,310 HYPE on Hyperliquid, tracked by Lookonchain the same week45.
- 4.99 percent: the share of Hyperliquid's maximum HYPE supply burned permanently by Oct. 29, 2026, per Onchain Lens6.
- $1.51 billion: cumulative net inflows into Solana's spot ETFs since launch, still positive despite October's outflows3.
What to watch
Watch whether SOL holds the $96 to $100 zone CryptoBusy flagged this week3. A close above $104 would open room toward $108 to $112. Solana's ETF flows deserve a second look too. One more withdrawal week would turn Oct. 27's outlier into a pattern. Lookonchain's tracker shows the wallet still feeding exchanges in slices1. Its next deposit would say whether the seller is nearly done or just getting started. The Hyperliquid wallet bears watching too4. A sixth day of selling would say whether its exit was a one-time move or the start of something longer.
Sources
- Lookonchain (@lookonchain), Post on X, Oct. 29, 2026, https://x.com/lookonchain/status/2115683208117563461
- Enna Lee, "Unidentified Whale Sells 1.02 Million Solana (SOL) Over Five Days," TokenPost, Oct. 29, 2026, https://www.tokenpost.com/news/investing/43243
- Olivia Stephanie, "Solana price falls below $100 as ETFs lose $24.8M in two days," crypto.news, Oct. 29, 2026, https://crypto.news/solana-price-prediction-etf-outflows-100-support/
- Lookonchain (@lookonchain), Post on X, Oct. 29, 2026, https://x.com/lookonchain/status/2115745199611908326
- PANews, "Whale Sells Over 694,000 HYPE in Past 5 Days, Worth $53.27 Million," PANews, Oct. 29, 2026, https://panews.io/articles/01a1871a-dd3a-7468-ad89-5154a0bca159
- Onchain Lens (@OnchainLens), Post on X, Oct. 29, 2026, https://x.com/OnchainLens/status/2115647812574793824
- TechFlow, "Hyperliquid Burns 49.87M HYPE Tokens Worth $3.89B, 4.99% of Max Supply," KuCoin News, Oct. 29, 2026, https://www.kucoin.com/news/flash/hyperliquid-burns-49-87m-hype-tokens-worth-3-89b-4-99-of-max-supply