The crypto world is on edge as wallets linked to bankrupt exchange FTX and its trading firm Alameda Research just unstaked over 3 million Solana (SOL). This is the biggest SOL unlock since they started selling off assets in November 2023. With SOL already dropping 20% in the last 24 hours, panic is spreading.
Will this massive unlock trigger an even bigger price crash, or can the market hold strong?
FTX and Alameda’s Biggest Unstake Since 2023
According to Lookonchain FTX and Alameda just made their biggest Solana (SOL) unlock since late 2023. On March 4, FTX & Alameda unstake 3.03 million SOL worth a jaw-dropping $431 million in a single move.
Shortly after the unlock, around 25,000 SOL ($3.3 million) was sent straight to Binance. This continues a trend that started in November 2023 when FTX and Alameda unstaked 2.1 million SOL worth $141 million.
With millions of SOLs constantly flowing to exchanges, fears of a bigger sell-off are growing. Some experts believe this could trigger another price crash, or