Multicoin Capital Transfers $47M in JITOSOL to Liquidity Providers Amid Executive Shake-Up

Multicoin Capital, a major player in the Solana ecosystem, transferred 440,000 JITOSOL to liquidity providers FalconX and Galaxy Digital on February 5, 2026 according to LookOnChain data. The move is valued at approximately $47 million, highlighting the firm's continued commitment to Solana despite recent leadership changes. Arkham analyst Emmett Gallic reported the transfer, emphasizing its significance in the context of broader market activity.

Kyle Samani, co-founder of Multicoin Capital, announced his departure from the firm's executive partnership on February 5, 2026. He stated he will explore new tech-focused opportunities, including AI and robotics, while remaining a chairman. His decision follows a decade of leading the firm to a $5.9 billion AUM through early investments in Solana.

The transfer of JITOSOL to liquidity providers is seen as a bullish signal for Solana. Despite a recent decline in the price of SOL, analysts suggest the market could stabilize if the Clarity Act is enacted. Samani's continued support and his positive outlook on Solana reinforce the firm's strategic stance in the crypto market.

What Drives Multicoin's Strategy on Solana?

Multicoin Capital remains one of the largest holders of Solana, with at least 2.8 million SOL in its portfolio as of February 6, 2026. This is a significant reduction from its holdings of 24 million SOL in early 2021, indicating a more strategic and liquid approach. The recent JITOSOL transfer to liquidity providers suggests a focus on maintaining market depth and supporting Solana's ecosystem.

Samani's departure is not expected to affect the firm's bullish stance on Solana. He emphasized that the Clarity Act will "fundamentally change finance" and expressed confidence in Solana's future despite broader market volatility. The firm's continued Solana exposure remains a key driver of its crypto strategy.

How Is the Market Reacting to the Transfer?

The Solana price reacted to the news with mixed signals. While the overall market remains bearish, Solana's fundamentals are seen as strong, supported by institutional demand and infrastructure improvements. Analysts are monitoring key support levels, with S1 at $89.30 as a critical threshold for short-term recovery.