Solana is experiencing significant market pressure as FTX holds over $1 billion in Solana (SOL) tokens amid its bankruptcy liquidation. FTX and Alameda Research have sold 530,000 SOL recently but still retain substantial holdings.
Currently, the exchange has 7.06 million SOL, worth $945.7 million, staked but unsold. This sizeable holding is adding pressure to Solana's market value.
The continued liquidation process is creating uncertainty and exerting downward pressure on the Solana market.
