Solana price dropped below the $110 threshold, settling at $108.30 at press time, representing a 3.5% decline over 24 hours and a 13% drop year-to-date. This decline follows SkyAI, the fourth-largest SOL DAT holder globally, selling one million tokens for approximately $107 million, with its remaining position now showing unrealized losses exceeding $160 million based on an average purchase price of $194 per SOL. These sales are part of a major buyback offer by SkyAI, which plans to acquire up to 95% of its outstanding shares and warrants at $3 per share, representing a 65% premium to its October 9th closing price. The offer, expected to begin around October 15th for a ten business-day period, is conditional on SOL remaining above $100. Despite this selling pressure, cumulative SOL DAT positions rose 6.9%, and traders are now watching the key $115 level as an indicator of potential recovery.
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