According to a recent tweet by an X user, the FTX bankruptcy auction will unleash 11.2 million SOL into the market on March 1. This event, which will dump SOL tokens worth about $2.06 billion into the market, is bound to have substantial implications, potentially affecting Solana’s liquidity and price.
FTX 破产拍卖的 1120 万枚 $SOL 将在 03/01 解锁，价值 20.6 亿美金🚨
FTX 曾在三次拍卖中出售 4100 万枚 SOL，TOP3 买家和拍卖价格如下
1️⃣Galaxy：$64 买入 2552 万枚，回报率 187%
2️⃣Pantera 及其他买家：$95 买入 1367 万枚，回报率 93%
3️⃣Figure 及其他买家：$102 买入 180 万枚，回报率 80% https://t.co/iPhqiR715C pic.twitter.com/sNvxXspz0S— Ai 姨 (@ai_9684xtpa) February 17, 2025
So far, FTX has sold off about 41 million SOL in three auctions. The top three buyers in these auctions bought the coins at $64, $95, and $102 per token, respectively. Notably, several prominent over-the-counter (OTC) traders, including Galaxy, Pantera, and Figure, were among the major buyers.
What to Expect from the FTX SOL Token Unlock
Solana’s recent activity has been quite eventful. While the token has performed well in the past year, its price has decreased by 1.17% in the last hour and 5.58% in the past 24 hours, with a current price of $185 per SOL.
With the influx of 11.2 million SOL from FTX on March 1, the market may experience increased selling pressure, potentially affecting SOL’s price.
Amidst the uncertainty, a promising development unfolds for Solana. A recent development has brought optimism to the space, with the United States Securities and Exchange Commission (SEC) officially acknowledging four filings for Solana exchange-traded funds (ETFs) from prominent asset management firms, including Bitwise, VanEck, 21Shares, and Canary.
If the SEC approves these filings, the resulting ETFs will offer a regulated and structured investment vehicle, enabling institutional and retail investors to tap into Solana’s cutting-edge blockchain technology.
FTX’s Lingering Market Impact
Since FTX filed for Chapter 11 bankruptcy protection in November 2022, the defunct cryptocurrency exchange has cast a long shadow over the market. The initial bankruptcy filing triggered a sharp downturn, with Bitcoin, Ethereum, and other major cryptocurrencies experiencing significant losses, including declines of up to 20% in a single day.
This pattern of market volatility has continued with each subsequent development, including the approval of FTX’s bankruptcy plan and incremental debt repayments, sending ripples through the market.
