11.2 million Solana (SOL) tokens valued at $2.06 billion are set to be unlocked as part of FTX's bankruptcy asset liquidation plan. This release follows earlier sales of 41 million SOL to institutional investors like Galaxy Digital, Pantera Capital, and Figure. Here’s what you need to know about the potential market impact.
Why Is This SOL Being Unlocked?
The unlock is part of FTX’s post-collapse bankruptcy proceedings, where 41 million SOL were liquidated through auctions and over-the-counter (OTC) transactions. The upcoming 11.2 million SOL release is scheduled for March 1 and stems from the same liquidation plan.
Key Details:
- Total SOL sold previously: 41 million
- Current unlock: 11.2 million SOL ($2.06B at current prices)
- Institutional buyers: Galaxy Digital, Pantera Capital, Figure
- Purchase prices: $64, $95, and $102 per SOL in past auctions
Market Impact: Will SOL’s Price Drop?
The unlock introduces potential selling pressure, but the actual impact depends on institutional holders’ actions:
- If investors sell: Increased supply could drive prices lower.
- If they hold: Limited immediate impact; long-term stability may prevail.
- Network growth: Solana’s expanding ecosystem (DeFi, meme coins) could offset volatility.
👉 Solana price predictions and analysis
Solana’s Current Market Standing
As of writing:
- Price: $166.74 (down 0.1% in 24 hours)
- All-time high: $270.67 (reached during Trump meme coin hype)
Recent events affecting SOL:
- LIBRA scandal: Insider trading led to a 12% SOL drop.
- TRUMP meme coin: Drove SOL to ATH with $3B trading volume.
- Crypto reserve rumors: SOL surged 8% amid speculation of U.S. government backing.
FAQs
1. How much SOL is being unlocked?
11.2 million SOL ($2.06B) from FTX’s bankruptcy auctions.
2. Who bought FTX’s SOL holdings?
Institutions like Galaxy Digital and Pantera Capital via OTC deals to avoid market disruption.
3. Will this unlock crash SOL’s price?
Not necessarily—price depends on whether holders sell or retain their stakes.
👉 Stay updated on Solana’s market trends
4. What’s Solana’s long-term outlook?
Despite short-term volatility, its DeFi and meme coin ecosystems show robust growth.
Institutional Buyers and Their Role
Major investors acquired SOL through bankruptcy auctions, minimizing direct market impact:
| Investor | Focus |
|---------------------|---------------------------------------|
| Galaxy Digital | Crypto/blockchain investments |
| Pantera Capital | Digital asset funds |
| Figure | Blockchain-based fintech services |
FTX’s SOL Holdings: By the Numbers
- Total liquid crypto portfolio: $3.4B (per court filings)
- SOL portion: $1.16B (as of last disclosure)
What to Watch
- Institutional selling activity post-unlock.
- Solana’s network metrics (TVL, transaction volume).
- Regulatory developments around crypto reserves.
Final Thought: While unlocks often spark volatility, Solana’s fundamentals and adoption may buffer significant downside.