Solana Faces Potential Sell Pressure as $2B Unlock from FTX Estate Approaches
Solana’s $2B Unlock: Market Braces for Potential Sell Pressure
Solana ($SOL) is set to experience a major market event as 11.2 million SOL tokens, worth approximately $2 billion, will be unlocked from the FTX estate on March 1. This unlock has sparked concerns about increased sell pressure and heightened volatility in the coming weeks.
What’s Happening?
This unlock is part of the FTX bankruptcy proceedings, where assets are being liquidated to repay creditors following the exchange’s collapse in 2022.
Will This Trigger a Sell-Off?
While not all unlocked tokens will be sold immediately, the crypto market has seen previous instances where large unlocks led to short-term price corrections. Key factors to consider include:
