Solana News: FTX SOL Liquidation Looms—How Will 11.2M Tokens Impact Crypto Prices?
The post Solana News: FTX SOL Liquidation Looms—How Will 11.2M Tokens Impact Crypto Prices? appeared on BitcoinEthereumNews.com.
On March 1, 11.2 million SOL tokens worth $2.06 billion will be unlocked from the FTX bankruptcy auction, marking a major event in the cryptocurrency market. The unlock event offers an opportunity to monitor price fluctuations, and if SOL’s value decreases due to increased supply, investors may seize the chance to acquire the token. The Solana (SOL) market is poised for a significant shake-up, as a total of 11.2 million SOL tokens, valued at approximately $2.06 billion, are set to be unlocked on March 1 following the FTX bankruptcy auction. This upcoming release of tokens marks the final phase of FTX’s liquidation process, which has seen the sale of a total of 41 million SOL through three separate auctions. Among the buyers were major institutional firms, including Galaxy Digital, Pantera Capital, and Figure, alongside other (Over-the-Counter) OTC traders. As revealed on an X post, Galaxy Digital, the largest buyer, secured 25.52 million SOL at $64 per token, which translates to a 187% return based on current market prices. Pantera Capital and other firms acquired 13.67 million SOL at $95, while Figure and additional buyers bought 1.8 million SOL at $102, securing returns of 93% and 80%, respectively. 🫰Opportunity to buy $SOL at a cheap price !!! According to reliable sources, on March 1, 2025, approximately 11.2 million Solana (SOL) tokens, worth over $2 billion, will be unlocked from FTX’s bankruptcy estate.This event could create selling pressure in the market due to the… pic.twitter.com/JNyVORNh3m — icefrog.sol | 🎒 (@icefrog_sol) February 17, 2025 How Will the Unlock Affect Solana’s Price? The market reaction to the upcoming 11.2 million SOL unlock depends on several factors, including how quickly these tokens hit the market, the method of liquidation, and whether demand can absorb the additional supply. If these tokens are dumped all at once,…
Filed under: News - @ February 17, 2025 5:27 pm