727 FinancePANews October 13 news, according to Lookonchain monitoring, SOL treasury company SkyAI has transferred out 1.57 million SOL this month, worth about $175 million, with an average purchase price of about $194, and an estimated loss of more than $160 million. The company announcement confirmed that it has recently sold about 1 million SOL, accounting for about 50% of its original holdings, and still holds about 1 million, and may continue to sell depending on market conditions. The proceeds from the sale are intended to be used for a cash tender offer to repurchase shares and warrants. The amount transferred out on-chain is not equivalent to the actual amount sold.
SkyAI has recently sold approximately 1 million SOL and may continue to reduce its holdings.
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