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Solana Faces Selling Pressure Following FTX Collapse and Concerns About Locked Stake and Large Investor Sell-Off

Solana is facing selling pressure and uncertainty following the collapse of FTX, which was largely attributed to Alameda Research, an entity affiliated with FTX, which held a substantial quantity of SOL tokens. The presence of a locked stake of 8.2% in the Solana cryptocurrency supply, held by Alameda Research and currently undergoing bankruptcy proceedings, raises concerns about the potential impact on the supply and liquidity of SOL in the coming years. Additionally, a large whale was observed selling a significant portion of its holdings, adding to the selling pressure on Solana and contributing to the downward price trend. Despite these challenges, Solana's development activity has continued to rise, suggesting that new updates and upgrades could be in the pipeline for the Solana network.

Solana Alameda Research
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