Multicoin Linked Wallet Transfers 440,000 JITOSOL to Market Makers Worth Around $47 Million

According to blockchain analytics platform Arkham, on February 6 a wallet linked to leading venture capital firm Multicoin transferred 440,000 JITOSOL tokens to market makers FalconX and Galaxy Digital, representing approximately $47 million at current market prices.

Ongoing Portfolio Rebalancing

Despite the significant token movement, tracking data shows Multicoin still maintains a holding of approximately 2.8 million SOL tokens valued at around $250 million. This compares to their peak holdings of 24 million SOL tokens in early 2021.

Leadership Shift

The transaction follows closely after Multicoin co-founder Kyle Samani announced his departure from day-to-day operations on February 5, stating plans to explore new technological frontiers while continuing to serve as chairman of the largest SOL treasury organization globally.