News 
March 4, 2025 
3 min. 
FTX has executed its largest unstaking of Solana (SOL) tokens since November 2023, releasing 3.03 million SOL valued at approximately $432.5 million. These tokens were distributed across 37 wallets, with indications pointing toward eventual deposits on major exchanges such as Coinbase and Binance. The move comes ahead of an additional 11.2 million SOL tokens set to be unlocked in early March 2025, further contributing to concerns about market stability.
FTX Large-Scale Unstaking and Market Reactions
Since November 2023, FTX/Alameda had unstaked and moved across multiple exchanges 7.83 million SOL, translating to $986 million. These movements have each coincided with Solana’s price movements, revealing FTX/Alameda’s liquidations have greatly affected the price. These sales seem to be executed in a way so that they can benefit from price increases and decreases at different times.
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The latest unstaking event comes at a time when Solana is already facing selling pressure. If past moves are anything to go by, the tokens set to be released in March 2025 will create even more volatility in the markets, which is why investors are paying close attention now.
Solana’s Price Faces Heavy Selling Pressure
This sharp SOL price depreciation coincided with the recent unstaking of funds. At the time of writing, SOL is down to $140.88, a staggering dip of 19.46% in the past 24 hours. The cryptocurrency is juggling between $178.63 and $139.43 and the latest downturn compounded by the overall weakness in the market has made the situation a lot worse.
To add to the list of bad indicators, according to CoinMarketCap, Solana’s market capitalization reduced by 19.16% and now rests at $69.58 billion. Investor sentiment has clearly faltered. Trading volume simultaneously reduced by 23.37%, showing a lack of liquidity in the market. On the bright side, Solana’s FDV still remains optimistic at $81.56 billion. If the FDV can withstand the selling pressure, Solana could make a phenomenal long term recovery.
As for the future, the planned release of additional SOL tokens at the start of March could propel some volatility. Traders are still on high alert with the FTX/Alameda staggering unstaking activities and worsening market condition.
