SkyAI has recently sold approximately 1 million SOL and may continue to reduce its holdings.

PANews 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.