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.
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.
