By Nermeen Nabil Khear 
The post Will FTX’s Final $2 Billion Solana (SOL) Dump Trigger a Crypto Market Crash? appeared first on Coinpedia Fintech News
A major event is set to disrupt the Solana (SOL) market on March 1, when 11.2 million SOL – worth around $2.06 billion – will be unlocked from the FTX bankruptcy auction. This marks the final stage of FTX’s liquidation of its SOL holdings, following the sale of 41 million SOL in previous auctions.
But with such a massive amount of tokens about to hit the market, what could it mean for SOL’s price?
Let’s dive in and explore what’s really at stake for Solana.
Who Bought the SOL, and What’s at Stake?
During earlier auctions, several major institutional players bought large amounts of SOL at different prices. Galaxy Digital was the biggest buyer, purchasing 25.52 million SOL at $64 per token, which has already earned them a huge 187% return based on current prices.
Pantera Capital and others bought 13.67 million SOL at $95, seeing a 93% return, while Figure and additional buyers acquired 1.8 million SOL at $102, giving them an 80% return.
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How Will the Market React?
The unlocking of such a large amount of SOL raises concerns over potential sell-offs, which could lead to price volatility. Investors will be closely watching whether these institutions decide to cash out their significant profits or hold onto their holdings in anticipation of further gains. If a large portion of this supply hits the market, SOL’s price could face downward pressure.
Despite concerns of a sell-off, analysts believe the risk is low, as many investors plan to hold for long-term gains. Investors are advised to monitor the situation carefully. However, given the strong institutional backing and Solana’s ongoing growth in the crypto space, some analysts believe these firms may opt to hold, to lower the risk of losses.
Solana Current Market Snapshot
Solana (SOL) has recently dropped in price after a rally, and it’s currently testing the $180 support level. While it’s down about 6.6%, there are signs that the selling pressure is easing up. If the price hits $182-$179, it could bounce back, but if it breaks below $175, the trend might shift. Crypto analysts recommend waiting to buy until the price goes above $187, but those looking for short-term gains can try buying at lower levels with caution. Overall, the market is a bit unstable right now, so it’s important to manage risks carefully.
With the stakes high and the market on edge, March 1 could be the tipping point for Solana’s next big move. Let’s see how it plays out.
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The post Will FTX’s Final $2 Billion Solana (SOL) Dump Trigger a Crypto Market Crash? appeared first on Coinpedia Fintech News
A major event is set to disrupt the Solana (SOL) market on March 1, when 11.2 million SOL – worth around $2.06 billion – will be unlocked from the FTX bankruptcy auction. This marks the final stage of FTX’s liquidation of its SOL holdings, following the sale of 41 million SOL in previous auctions. But …
This articles is written by : Nermeen Nabil Khear Abdelmalak
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