Solana Faces Uncertainty Ahead of FTX Repayments

Solana Price Forecast for April 2025: SOL traders risk $120 reversal as FTX begins $800M repayments on May 30

Solana price remained below $130 on Tuesday despite broader market gains, including BTC, XRP, and ADA scoring over 3% in the last 24 hours. FTX estate is set to begin major repayments on May 30, with 61% of its $800 million on-chain holdings on Solana and 39% on Ethereum. Investors are wary of looming FTX sell-offs, causing SOL to face headwinds.

Solana’s Future Uncertain Amid Q2 Slump Concerns

Solana [SOL] experienced a sharp decline in Q1, dropping 34% and losing $100B in market cap. The asset faces further downside risks with no clear catalyst for recovery. Technical analysis shows a lack of clear support levels, increasing the risk of further declines. Solana’s struggles are due to a combination of macro and microeconomic factors, making Q2’s outlook uncertain.

Kristin Smith Steps Down as Blockchain Association CEO to Join Solana Policy Group

Kristin Smith, a prominent crypto advocate in Washington, has announced she is stepping down as CEO of the Blockchain Association after five years. She will take on a new role as President of the Solana Policy Institute on May 19, a group focused on shaping policy around the Solana blockchain ecosystem. Smith called the move a ’shift in perspective’ and not a goodbye to the crypto industry. During her tenure, she led the Blockchain Association from startup to a policy powerhouse.

Solana Price Declines While Volume Increases

Solana (SOL) price drops to $124.21, marking a 1.35% decline in the last 24 hours. The daily trade volume climbed by 0.50% to $3,035,798,634. This volume increase amidst a price decline may suggest profit-taking or repositioning by crypto traders. Solana has declined 13.45% in the last 7 days with a total market capitalization of $63,660,243,847. EOS, Cronos, and Zcash emerged as top gainers, while DeXe, Story, and Four were top losers.