Solana (SOL) Braces for Potential Sell-Off as FTX and Alameda Unstake $31 Million in Tokens
In a move that has raised eyebrows across the cryptocurrency market, defunct entities FTX and Alameda Research have unstaked a significant amount of Solana (SOL) tokens, totaling 189,851 SOL (worth approximately $30.94 million). This action has sparked concerns of an impending sell-off, as historical data suggests such unstaking events often precede asset liquidation. Notably, last December, a similar unstaking event by these firms facilitated $1.2 billion in user repayments following their collapse. Despite these concerns, market sentiment appears divided, with bullish investors maintaining dominance, as evidenced by Coinglass data showing $182 million in long positions. As of July 13, 2025, the crypto community is closely monitoring Solana's price action for potential volatility.
Solana (SOL) Faces Potential Price Pressure as FTX and Alameda Unstake $31 Million
Defunct entities FTX and Alameda Research have unstaked 189,851 SOL tokens worth $30.94 million, sparking concerns of a sell-off. Historical precedent shows such moves often precede asset liquidation—last December, a similar unstaking event facilitated $1.2 billion in user repayments following the firms' collapse.
Market sentiment appears divided. Coinglass data reveals bulls maintain dominance with $182.72 million in long positions versus $80 million in shorts. SOL's price chart shows three consecutive green candles, suggesting upward momentum, though the unstaking event has introduced volatility. The asset now struggles to maintain its rally as traders weigh the relatively modest unstaking amount against broader market optimism.
Lookonchain's blockchain analytics highlight the delicate balance between institutional actions and retail speculation. While the current unstaking volume may lack sufficient gravity to trigger a major correction, it serves as a reminder of SOL's ongoing exposure to legacy liabilities from the FTX debacle.
Solana Price Faces Potential 40% Drop Before Bullish Reversal
Solana's price trajectory has taken a bearish turn since peaking near $300 in January 2025, now languishing 45% below its all-time high despite broader market recovery. crypto analyst The Alchemist Trader warns of further downside, identifying a rare bullish harmonic pattern that typically precedes a liquidity sweep of prior lows—potentially driving SOL down 40% to $95 before any sustained rebound.
Technical indicators suggest mounting resistance at the Value Area High, compounded by weak momentum in testing the Point of Control level. Market participants await confirmation of whether solana will retest support levels or defy the pattern's initial bearish phase to resume its upward climb toward $200.
Upexi Announces $200 Million Solana Treasury Injection
Upexi, a consumer products firm diversifying into crypto, revealed plans to raise $200 million for its Solana treasury. The funding comprises a $150 million convertible note led by BigBrainVC and a $50 million private equity placement. Net proceeds will be used to purchase additional SOL tokens.
The convertible notes will be collateralized by locked, spot SOL provided by investors, featuring a two-year maturity and 2% quarterly interest. Upexi previously allocated 95% of a $100 million April raise to establish its Solana-based treasury reserve. Shares surged 335% following the announcement, peaking at a yearly high.
Pump.Fun Token Sells Out in 12 Minutes as Whales Dominate Solana Launchpad
The Pump.Fun token presale concluded in a record-breaking 12 minutes, with 12.5% of the 1 trillion PUMP supply sold at $0.004 per token. The Solana-based launchpad attracted significant whale activity, including a notable participant who previously turned $1.19 million into $438 million on TRUMP meme coin trades.
Post-sale, the token surged 40% despite being initially non-transferable. Distribution restrictions excluded US and UK participants, yet demand overwhelmed capacity. Blockchain analytics revealed seven-figure investments from crypto whales during the presale window.
The project team confirmed completion of the sale via X (formerly Twitter), noting tokens will remain locked until distribution concludes. Market response appears bullish, with early indicators showing positive price action for the Solana ecosystem token.
