FTX’s 11.2M SOL Unlock on March 1: $2.06B in Play
11.2M SOL worth $2.06B from the FTX auction will unlock on March 1. Here's what it means for the market.
- 11.2 million SOL from the FTX auction unlocks on March 1, valued at $2.06 billion.
- FTX sold 41 million SOL in auctions, with top buyers purchasing at $64, $95, and $102.
- Major OTC traders like Galaxy, Pantera, and Figure participated in the sales.
FTX’s SOL Unlock: What It Means for the Market
The cryptocurrency market is bracing for a major event as 11.2 million Solana (SOL) tokens from the FTX bankruptcy auction are set to be unlocked on March 1. These tokens, valued at approximately $2.06 billion, could significantly impact SOL’s price and liquidity.
FTX’s SOL Auctions and Top Buyers
FTX, the now-defunct crypto exchange, sold a total of 41 million SOL across three separate auctions. The top buyers acquired SOL at varying prices of $64, $95, and $102, with over-the-counter (OTC) traders like Galaxy Digital, Pantera Capital, and Figure taking part. These firms are known for their institutional-grade crypto investments and could influence market movements post-unlock.
The 11.2 million SOL from the FTX bankruptcy auction will be unlocked on March 1, worth $2.06 billion, according to @ai_9684xtpa. FTX sold 41 million SOL in three auctions, and the top three buyers bought at prices of $64, $95, and $102. Including OTC traders Galaxy, Pantera,…
— Wu Blockchain (@WuBlockchain) February 17, 2025
Potential Market Impact
With such a large volume of SOL entering the market, speculation arises regarding price fluctuations. If investors decide to sell, it could create downward pressure on SOL. However, long-term holders and institutional buyers may absorb the supply, mitigating drastic price swings. The market will be closely watching how these tokens move once unlocked.
What’s Next for SOL?
The unlocking of these tokens is a key moment for Solana and its ecosystem. Investors should remain vigilant and consider market dynamics before making trading decisions. Whether this unlock leads to increased volatility or steady price action will depend on buyer sentiment and institutional strategies.
