Solana Price Slips Below $130 As Market get manipulated
Key Insights
- Solana price plunged more than 15% due to fears of FTX’s SOL unlock.
- FTX will unlock 11.2M SOL ($1.77B) on March 1st, potentially adding price pressure.
Solana (SOL) is set to undergo a significant unlocking event by FTX and faces a selloff over 15% ahead of it.
Ahead of the upcoming token unlock event, investors and traders highlight caution and raise questions about how the market will absorb the new supply and its potential impact on price dynamics.
At press time, Solana price was trading at $133.99, noting a decline of over 15.20% in the past 24 hours. Its market cap stood at $66.37 Billion, ranked 6th in the overall crypto market.
FTX Unlock Incoming? Is a Supply Shock Imminent?
FTX plans to release 11.2 million SOL tokens worth approximately $1.77 Billion on March 1, 2025 through their upcoming unlock.
The upcoming SOL token release to the market will generate excess supply and create selling pressure which may push prices lower.
The sell-off fears surrounding FTX resonate strongly among investors because of its former status as a crypto market king which may result in intensified market declines.
The release of additional supply surpassing market demand creates economic conditions which could drive prices toward possible declines.
Meanwhile, an unknown whale transferred over 846,613 SOL worth $127 Million to an unknown wallet.
Despite the market headwinds, the sizable transfer sparked speculation regarding the potential bounceback ahead.
Solana On-Chain Data Outlook:
Amidst the market selloff and FTX unlock event, Solana has faced a decrease in the network activity. The daily active addresses dropped over 1.2%, highlighting that users have lost their interest in the token.
Active Users Data | Source: TokenTerminal
Moreover, the decentralized exchange (DEX) trading volume has decreased by 36.66% to $16 billion. It highlights reduced activity across trading platforms.
Since February 24, 2025, Solana crypto has lost nearly $10 billion in both market cap and fully diluted valuation, underscoring the broad impact of the unlock fear.
Moreover, a post by milesdeutscher revealed that the SOL’s market sentiment analytics witnessed a worst performance.
After being a top performer, it finally had its capitulation and lost its market dominance.
Solana Price Prediction: Is a Rebound Imminent?
SOL price faced a sharp cut and failed to sustain gains near the $155 mark. It has fallen below the key moving averages, underlying a bearish momentum in the short term.
Since mid January, it continued to form lower low swings and persisted in draining gains. Currently, it looks oversold and trades closer to the 38.2% Fib support zone.
Also, the Bollinger bands indicate that a rebound could take place and SOL price might revisit the $150 mark ahead. Amidst the significant price decline, the RSI line moved to the oversold zone and hints that Solana might be ripe for a short term recovery, especially if buying pressure picks up.
However, a break below the $120 mark could lead to more declines and a $100 mark retest also could be seen.
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Chinedu Okafor is an award-winning crypto journalist based in Lagos, Nigeria. With a degree in Computer Science and a passion for fintech innovation, Chinedu has dedicated his career to demystifying digital currencies. His in-depth reporting on blockchain technology and market trends has earned him recognition among industry experts and a loyal readership.
