FTX bankruptcy auction set to unlock 11.2 million SOL on March 1

March 1, 2025 is a key date for Solana token holders.

The cryptocurrency market is bracing for a major event on March 1, as 11.2 million SOL tokens, valued at about $2.06 billion, are set to be unlocked from FTX’s bankruptcy auction.

This release is expected to have certain implications for Solana’s liquidity, price stability, and investor sentiment.

The unlock follows FTX’s liquidation of 41 million SOL in three separate auctions, which were purchased by institutional investors at various price points—$64, $95, and $102 per token.

The upcoming release raises questions about potential selling pressure and its effects on market dynamics.

Potential Market Impact

1. Selling Pressure and Price Volatility

The influx of 11.2 million SOL tokens could lead to increased supply, affecting demand and price stability. A rapid sell-off by holders may push SOL prices downward, creating bearish market conditions. However, if institutional buyers choose to hold their positions, the impact may be minimal.

2. Investment Opportunities

For market watchers and investors, this unlock could present a strategic buying opportunity. If SOL prices dip due to increased supply, investors might capitalize on lower valuations to accumulate more tokens at a discount.

3. Implications for the Solana Network

Beyond price action, the event could influence market perception of Solana’s stability. Despite FTX’s collapse, Solana has demonstrated resilience, with continued growth in decentralized applications (dApps) and network adoption. While excessive sell pressure could momentarily shake investor confidence, the underlying strength of the network remains a key factor.

Who are the main buyers of SOL?

FTX’s auctions attracted several major institutional players, including:

• Galaxy Digital – A cryptocurrency-focused investment firm.
• Pantera Capital – A digital asset investment fund with strong market presence.
• Figure – A fintech platform leveraging blockchain for financial services.

These firms acquired SOL through Over-the-Counter (OTC) transactions, minimizing immediate market disruptions. However, their future actions—whether they hold or sell—could shape SOL’s price trajectory.

Market participants will be watching closely to gauge the potential risks and opportunities presented by the March 1 unlock.