FTX Unstakes $31M in SOL – Will Solana Face a Sell-Off or Will the Market Absorb It?

As the crypto market rallies, FTX is once again making headlines. This time, it’s due to the unstaking of nearly 190,000 Solana (SOL) tokens worth over $31 million. The big question: Is this a routine move or a sign of incoming sell pressure?

🚨 $31 Million in SOL Unstaked at a Critical Moment According to Lookonchain, FTX’s bankruptcy estate transferred 189,851 SOL worth approximately $31.32 million. This happened right as the crypto market gains momentum and institutional interest in the Solana ecosystem continues to grow. While some analysts argue this is just a routine transaction—FTX has been unstaking tokens regularly for months—others point to the timing. Releasing SOL now could create short-term volatility. Market sentiment is sensitive. “Sending these tokens back into circulation at this stage might spark more uncertainty,” noted one market observer.

📊 Can the Market Handle It? Despite the concerns, there's a strong counterpoint: Solana is currently in high demand. Its network processes over $30 billion in daily transactions and has shown greater resilience to past sell-offs. In this context, the $31 million looks relatively minor. Some experts even see this development as positive. They speculate FTX could use the unlocked SOL for strategic investments or opportunistic acquisitions, not necessarily for dumping on the market.

🧾 FTX Repayments and Potential Price Impact FTX is in the process of distributing around $5 billion in assets as part of its bankruptcy proceedings. Notably, 82% of creditor claims originate from Chinese users—who face restrictions due to China’s crypto ban. This may delay payouts and help mitigate immediate market impact. That said, past events give reason for caution. In January 2024, when FTX prepared to release billions in payouts, it unlocked $236 million worth of SOL—causing a temporary price dip. The current $31 million may be smaller, but it still raises red flags about possible future sell pressure.

🔍 What Comes Next? Much will depend on FTX’s next moves. If the tokens are distributed gradually and held rather than sold, the impact could be minimal. However, if large amounts are sent directly to exchanges, Solana could face increased volatility—even in this bull market.

#solana , #FTX , #CryptoMarket , #CryptoVolatility , #CryptoNews

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