Solana Surges to $150 Despite FTX’s $431M Sell-Off – Can It Hit $200?

• FTX together with Alameda Research continues to unstake along with transferring increasing amounts of SOL as they aggressively sell their assets.
• Binance recently received an $8.52M SOL transfer which leads people to question whether this will create pressure on Solana’s market value through sales.
• Large selling activities have failed to overcome SOL momentum as bullish investors have propelled it to an 8.6% gain during today’s session.

A major transfer of 58,964 Solana (SOL), worth around $8.52 million, has been sent from wallets tied to FTX and Alameda Research to Binance. This is just a fraction of a much larger unstaking process, with 3.03 million SOL ($431.3 million) being moved by the collapsed exchange and its affiliate. The transfer has sparked speculation about the fate of these funds and how they might affect Solana’s market dynamics in the coming days.

Large-Scale Unstaking and Transfers

Since filing for bankruptcy, FTX has been steadily liquidating its assets to repay creditors, with Solana (SOL) being one of its largest holdings. The exchange has been gradually unstaking and transferring SOL to various platforms, with the latest move sending nearly 59,000 SOL to Binance. While this is just a small fraction of the total unstaked amount, it signals an ongoing effort to distribute or sell off assets.

Now, as these holdings are unwound, the crypto community is closely watching for potential market impacts. The transfer to Binance suggests that some of these assets could soon be sold or repurposed, possibly influencing Solana’s price and overall market sentiment.

Solana’s Resilience Amid FTX Sell-Offs and Market Surge

A significant SOL position dumping may introduce market volatility. Large cryptocurrency movements to exchange platforms frequently predict an upcoming market sell-off that results in reduced prices. The Solana ecosystem demonstrates stability because it has maintained its position despite previous liquidations connected to FTX.

Solana (SOL) is showing strong bullish momentum today, trading at $148.96—a solid 8.6% increase. Its value against Bitcoin has also risen by 1.5%, now at 0.001659 BTC. With a 24-hour price range of $132.68 to $149.65, the token has seen significant volatility. Currently ranked #6 in the market, Solana is pushing toward its daily high, driven by strong trading activity and growing investor confidence.The recent SOL transfer to Binance highlights the ongoing liquidation process of FTX and Alameda’s assets.