SOLANA (SOL) led the loss of the top 50 cryptocurrency, which has decreased by 10% over the last 24 hours in Monday morning in Europe. Token has decreased 19% over last week. What is behind the slide?
FTX repayment coefficient
Today, the encryption exchange, which was bankrupt in 2022, began to repay the creditor from Cryptocurrencies, including retail investors worth $ 50,000, including institutions and retail investors.
In March 1, 2025, a total of 11.2 million SOL tokens, worth $ 260 billion, will be unlocked, and this newly released liquidity may have a significant drop in the price of the SOL.
One of the largest buyers of SOL in FTX Exchange was Galaxy and Pantera Capital, which acquired Solana worth $ 1.6 billion for $ 64. The second largest buyer, along with Pantera Capital, bought a small amount of $ 1.3 billion for about $ 95 with a small holder.
“Solana’s market cap may be about $ 100 billion, but it doesn’t mean it’s enough to absorb large -scale selling. If they decide to dump, the price can be seriously hit. ”Crypto community members pointed out.
The warm -chain metrics reflect the emotions
Solana’s active address was low for five months on February 15, with over 8.3 million users per glass node. The number has since increased to 10 million since then, but the price of the SOL drops to sell pressure and exacerbate emotions.
According to GlassNode’s data, Solana’s total metastasis plunged from $ 2 billion in mid -November to $ 23 million today.
Solana remains the best network for Memecoin creators. Platforms such as Pump.fun, which can launch Memecoin without technology knowledge or initial capital, have been caused by Memecoin Bubble in 2024.
on the other way
- Some asset management companies submitted the application to US Securities and Exchange Commission (SEC) to start the Solana Exchange Transaction Fund (ETF), and the SEC recognized this submission.
Why this is important
Solana’s price drop signal is a wider market concern, with the upcoming token lock release adds volatility. The extended recession can affect investor trust, capital inflow and developer activities.
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