Company with an Altcoin Treasury Begins Selling: $138 Million in Sales in Five Days

SkyAI, one of the publicly traded companies contributing to the Solana treasury, reportedly sold approximately 1.25 million $SOL in the last five days. This amount is worth approximately $138 million in current market value.

According to on-chain data, an additional 211,623 $SOL were sent to Coinbase Prime from wallets linked to the company. SkyAI had confirmed the sale of approximately 1 million $SOL the day before. Assuming this latest transfer was also for resale purposes, the company’s total sales over the past five days reach approximately 1.25 million $SOL.

SkyAI has announced that its decision to reduce its Solana reserves is driven by a plan to repurchase shares in the company. The company aims to repurchase up to 95% of the shares it has issued.

However, it has not yet been directly confirmed that all 211,623 $SOL sent to Coinbase Prime have been sold.

When examining the Solana price during the same period, a drop of approximately 8% in the last week is noticeable. However, this decline parallels the general downturn experienced across the market.

*This is not investment advice.