FTX Unstakes $31 Million in SOL Tokens Amid Market Rally

• FTX unstaked 189,851 SOL tokens worth $31.32 million during the current bull market.

• Analysts remain split on whether this will create price volatility or be absorbed by strong demand.

• The exchange still holds 7.057 million staked SOL tokens worth approximately $943 million.

According to recent blockchain data, FTX has unstaked approximately 189,851 SOL tokens worth $31.32 million. The move comes during renewed market optimism and growing institutional interest in Solana. Market analysts are closely watching for potential selling pressure that could affect SOL’s price trajectory.

Today’s live Solana price is $163.76, showing the token’s current valuation amid ongoing market developments. The unstaking activity represents FTX’s continued management of its cryptocurrency holdings as part of its bankruptcy proceedings.

Industry Analysts Divided on Impact

Industry watchers remain divided on the implications of FTX’s latest unstaking activity. Some experts view the move as part of routine asset management, noting that the exchange has released similar amounts of SOL tokens for several months. They point to strong institutional demand for Solana as a factor that could absorb the additional supply without significant market disruption.

The total amount of SOL tokens that FTX and Alameda Service unstaked reached 3 million, while they unstaked 185,000 SOL tokens specifically last month, indicating a consistent pattern of token releases. Market participants note that Solana’s network has demonstrated resilience despite previous large-scale token movements.

Other market commentators express caution about potential volatility. They highlight that releasing tokens during a bull market could create uncertainty for SOL’s price action. The timing of the unstaking coincides with positive market sentiment and increased institutional adoption of Solana-based solutions.

Broader Context of FTX Bankruptcy Proceedings

The unstaking activity forms part of FTX’s broader asset distribution strategy. The exchange manages approximately $5 billion in assets during its bankruptcy reorganization. Most claims, around 82%, originate from users in China, though these individuals may face challenges receiving payments due to local cryptocurrency restrictions.

FTX still retains a significant portion of SOL – about 7.057 million tokens (worth roughly $943 million) are still staked on the network, suggesting continued token releases may occur. Previous unstaking events have shown temporary price impacts, with earlier releases of $236 million worth of SOL contributing to price volatility.

The current $31 million unstaking represents a smaller amount than previous releases. However, market participants remain alert to potential selling pressure if the tokens are quickly moved to exchanges. The ultimate market impact depends on whether recipients hold or sell the tokens immediately.

Solana’s network processes significant transaction volumes, handling over $30 billion in daily transactions. This activity demonstrates the blockchain’s growing utility and adoption, which supporters argue provides a foundation for absorbing additional token supply without major disruption to long-term price trends.