Solana price falls as Jump Crypto swaps $205m SOL for Bitcoin
Crypto market maker and trading platform Jump Crypto has swapped about $205 million in Solana for Bitcoin, onchain data shows.
- Jump Crypto transferred 1.1 million Solana tokens valued at $205 million at the time to Galaxy Digital.
- The firm swapped that for 2,455 Bitcoin valued at around $265 million.
- Solana price dropped to lows of $180 amid overall crypto market weakness.
Jump Crypto, a key player in the digital assets industry, executed the transfer on October 30, 2025, with data shared by Lookonchain showing the firm converted 1.1 million Solana ( SOL ) tokens for 2,455 Bitcoin ( BTC ).
At the time of the asset rotation, the value of the over a million SOL stood at roughly $205 million, while the swap to BTC saw Jump Crypto get around $265 million.
Solana price, which had hovered near $190 earlier in the day amid broader crypto market’s turbulence, touched lows of $181 across major exchanges. The token changed hands near $182 and under pressure amid this development.
Jump Crypto rotates out of Solana
According to Lookonchain, Jump Crypto transferred the 1.1 million unlocked SOL to Galaxy Digital, a leading digital asset management and data center firm.
The transaction marks a significant shift for Jump Crypto, and one that is worth watching.
While this move likely points to big money confidence in Bitcoin, observers say it could be a risk-off move. The latest market turmoil has not spared BTC, which has tanked from highs of $116,000 this week to currently trade near $107,000. However, Bitcoin looks like a safer bet if the turbulence ticks up.
Over $72 million in SOL liquidations
Notably, the crypto markets’ dumping in the past 24 hours has come after the Federal Reserve cut its interest rate by 25 basis points.
However, a divided Fed, as shown during the FOMC meeting, did not bolster risk assets as expected. Despite positive U.S.-China trade meetings, the Fed chair Jerome Powell’s remarks after the meeting appears to have spooked traders.
Stocks tanked , led by Nasdaq and the S&P 500, and the cryptocurrency market’s dip triggered over $975 million in 24-hour liquidations. Data from Coinglass showed traders had over $72.8 million in leveraged positions wiped out – about $70 million of it in bullish bets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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