Overview
- Lookonchain data shows Jump Crypto moved 1.1 million unlocked SOL worth about $205 million to Galaxy Digital and received 2,455 BTC worth roughly $265 million.
- The swap was completed in under 15 minutes using an OTC counterparty, indicating coordinated liquidity management rather than open‑market selling.
- Solana slipped to roughly $181–$185 during the period, while Bitcoin held near $107,000–$109,000 based on market tracking at the time.
- Coinglass reported about $72.8 million in leveraged SOL positions liquidated within 24 hours, contributing to roughly $975 million in total crypto liquidations.
- Neither Jump Crypto nor Galaxy Digital has commented publicly, and analysts view the move as portfolio rotation, with some noting recent Solana ETF inflows that increased available liquidity.