Solana Price Falls to $140 Amid Anticipation of 11.16M Token Unlock
Solana's SOL token has dropped to $140, marking a three-month low after a 15% overnight decline and a total market cap of $69 billion. Liquidations in the crypto market reached $882 million.
Key Developments
- 24-hour decline of 12% for Solana.
- Volume surged to 757.64k SOL, valued at approximately $106.8 million.
- Upcoming unlock of 11.16 million SOL tokens on March 1, valued over $1.5 billion, amid FTX bankruptcy proceedings.
- 135 whales holding over 10,000 SOL have sold or redistributed their holdings in the past month.
- Active addresses on the Solana network have dropped to 3.49 million, with new addresses at a low of 2.71 million.
- Total fees collected fell from $33.36 million to $2.79 million.
Market sentiment remains bearish with expectations of further declines, potentially revisiting the $100 support level if conditions persist.