2 Billion Solana Sold by FTX Opens on This Date: Investors in 3x Profit! - Coin Bulletin

The bankrupt cryptocurrency exchange FTX will unlock 11.2 million Solana (SOL) that it sold in the auction on March 1, 2025. The SOL price has also experienced a significant decline in recent days.

The 11.2 million SOL auctioned by FTX in the bankruptcy process will be unlocked on March 1, 2025 and its current value is approximately 2.06 billion dollars. Due to the selling pressure created by this development, the SOL price has fallen by more than 12% since Friday, dropping from $205 to $180. If large investors start selling after March 1, a larger drop in the SOL price may occur.

FTX sold a total of 41 million SOL in three different auctions during the bankruptcy process. The largest buyers included the following:

• Galaxy, 25.52 million SOL bought at 64 dollars and so far has made a profit of 187%.
• Pantera and other investors, bought 13.67 million SOL at $95 and provided a return of 93%.
• Figures and other investors, bought 1.8 million SOL at $102 and made a profit of 80%.

However, it is uncertain what these investors will do. If a large selling wave starts as of March 1, larger declines may occur in the SOL price.

SOL price has already dropped by more than 12%!

The effects of the FTX bankruptcy process are being felt in the Solana price. SOL, which was trading at 205 dollars on Friday, fell to 180 dollars as of Monday. This means a drop of more than 12%. The upcoming release of 2.06 billion dollars worth of SOL on March 1 has caused panic among investors.

This situation indicates that large investors may have started to dispose of SOLs that will unlock. Especially the amount of SOL held by large funds such as Galaxy, Pantera, and Figure may create additional selling pressure on the market.

Critical days for FTX creditors

This development comes immediately after the payment process announced last week for FTX creditors on February 18. Starting from this date when creditors with less than 50 thousand dollars will begin to receive their money, the release of a large amount of SOL on March 1 indicates that the final stages of the FTX process are approaching.