FTX sold 178,000 Solana tokens as part of efforts to repay investors by the fourth quarter. This move revives worries about the impact on Solana's price, given the existing connection between Solana and the defunct FTX and Alameda Research.
The news stems from the ongoing process of FTX liquidating assets to generate funds for investor reimbursement. Since Solana is a major L1 blockchain heavily impacted by previous affiliations with FTX and Alameda, stakeholders are observing potential price fluctuations closely.
While the market adjusts to this development, it remains to see how Solana's price will endure FTX's liquidation pressures as repayment obligations spur further asset sales.
