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Solana price falls as Jump Crypto swaps $205m SOL for Bitcoin

Solana price falls as Jump Crypto swaps $205m SOL for Bitcoin

Crypto.NewsCrypto.News2025/10/29 16:00
By:By Benson TotiEdited by Jayson Derrick

Crypto market maker and trading platform Jump Crypto has swapped about $205 million in Solana for Bitcoin, onchain data shows.

Summary
  • 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.

Jump Crypto appears to be rotating a large amount of $SOL into $BTC !

In the past 15 minutes, Jump Crypto transferred the unstaked 1.1M $SOL ($205M) to #GalaxyDigital and received 2,455 $BTC ($265M) in return. https://t.co/8EmhKZXhm0 pic.twitter.com/J1kglXO3IO

— Lookonchain (@lookonchain) October 30, 2025

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.

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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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