SOL Whale Exits After 2 Years With a $1.05M Loss — Staking Rewards Couldn't Save Him

On-chain data shows trader GyBRmk liquidated 21,911 SOL worth roughly $1.85 million after holding for more than two years, booking a realized loss of $1.05 million. The position was built over that period at an average cost of approximately $144 per SOL, with a total outlay of $2.91 million across 20,200 tokens.

The trader had staked the position throughout, accumulating 1,711 SOL — around $145,000 — in staking rewards. Even with that yield buffer factored in, the decline in SOL's price was steep enough to wipe out the rewards and then some, leaving a seven-figure net loss on exit.

The case is a pointed reminder that staking yield on a depreciating asset is a partial hedge at best. At an average entry near $144, the trader needed SOL to hold well above current levels just to break even — and the market never gave him that window.