1.65M SOL Unlock on Sept. 3 Likely Tied to Phantom’s PSOL Reserve, Not an Immediate Sell-Off

Whale Alert flagged a large Solana stake unlock late Thursday as a transfer to an “unknown wallet,” but public stake-pool data suggests the move was likely tied to Phantom’s liquid staking operations rather than an obvious whale preparing to sell.

The on-chain tracking service reported that 1,653,685 SOL, valued at $171,937,423, was “unlocked at unknown wallet” at 23:26:49 UTC on Thursday, Sept. 3, 2026. While that kind of event can draw attention from traders looking for signs of incoming sell pressure, public Solana stake-pool records indicate that the main receiving address, beginning pRERruHk, is the reserve stake account for Phantom Staked SOL, or PSOL, Phantom’s liquid staking pool.

That distinction matters because an unlock does not automatically mean tokens are headed for sale. On Solana, staking locks up SOL in special stake accounts. After deactivation and a waiting period, the tokens become withdrawable and transferable again, increasing the amount of liquid supply in the market. Traders watch large unlocks closely for that reason.

In this case, however, the publicly visible destination tempers the most bearish interpretation. Stake-pool tracking data shows the PSOL reserve at roughly 1.65 million SOL, closely matching the size of the unlock flagged by Whale Alert. That points to the transaction being connected to the pool’s reserve management rather than to an obviously unrelated retail wallet or exchange account.

There was also no evidence in the public Whale Alert record reviewed that the unlocked SOL was immediately sent to a centralized exchange deposit address, which is the type of transfer traders often view as a clearer sign that assets may be readied for sale. CoinGecko historical pricing for Sept. 3 showed SOL at about $103.96, broadly in line with Whale Alert’s valuation using $103.99 per token.

PSOL is Phantom’s liquid staking product, which allows users to stake SOL while receiving a token representing that position. A reserve stake account in a liquid staking pool can serve several routine functions, including handling redemptions, managing liquidity and rebalancing validator exposure. Because of that, a large unlock into a reserve account by itself does not show that a sell-off is imminent.

The caveat is that on-chain data alone does not independently confirm who controls the wallet addresses involved. And while public stake-pool data points to Phantom’s PSOL reserve as the likely destination for most of the unlocked SOL, the sourced material reviewed does not include a formal public statement from Phantom confirming that this specific transaction was part of its pool operations.