Solana News: Major Unstaking and Sell Pressure Impact SOL’s Future

Recent developments in the Solana ecosystem have raised concerns about its future price trajectory, with significant unstaking and sell pressure impacting the cryptocurrency. Here’s a closer look at what’s happening and what it means for SOL holders.

134K Solana Unstaked and Listed for Sale: Decoding SOL’s Road Ahead

Solana has shown resilience despite FTX/Alameda unstaking millions of SOL. The long-term impact hinges on whether buyers can absorb the mounting sell pressure. FTX and Alameda Research liquidated 83.7K SOL ($10 million) in two days, driving a 20% drop. Additionally, a whale unstaked 134,902 SOL ($19.26 million) and placed 135K SOL for sale via Jupiter Exchange. FTX/Alameda Research unstaked 3.03 million SOL ($432.5 million), causing a sharp 13.92% price drop. Recent moves include SOL being sold to Binance and deposited onto exchanges, worsening liquidity issues. A remaining 2.95 million SOL from the unstaked amount threatens further sell pressure.

Argentine Prosecutor Seeks to Freeze $110M in Assets Over Alleged LIBRA Crypto Scandal

An Argentine federal prosecutor is seeking to freeze up to $110 million in assets as part of an investigation into President Javier Milei’s alleged involvement in the LIBRA cryptocurrency scandal. Federal Prosecutor Eduardo Taiano has also requested access to deleted social media posts, including those promoting the Solana-based memecoin. Investigators aim to reconstruct financial transactions related to LIBRA, particularly around February 14-15 when the token’s trading volume surged. Taiano has moved to freeze digital wallets linked to the scandal, preventing further dispersal of funds.

Solana Labs Co-Founder Opposes Crypto Reserve

Solana Labs co-founder Anatoly Yakovenko has expressed opposition to a crypto reserve in the United States, warning that it could undermine decentralization. Yakovenko proposed that states should run their own reserves as a hedge against potential mistakes by the Federal Reserve, but emphasized that his preference is for no reserve at all if decentralization is to be maintained. He argues that if a reserve must exist, it should be based on objectively measurable requirements.

Solana Price Prediction 2025 As It Joins US Crypto Reserve

Despite $SOL’s recent dip to $131, 55% below its all-time high of $294 recorded two months ago, our Solana price prediction for the rest of the year is bullish. $SOL is currently trading at $148.85 with a 5.83% weekly increase, though the monthly trend is bearish (-27.42%). Key technical indicators point to a strong buy signal as the token is heading toward a rebound. $SOL escaped the Death Cross Formation as some investors saw the drop to $142 as a buying opportunity and placed substantial buy orders.