FTX Unstakes 186,000 SOL Tokens: What It Means for Solana’s Price Rally

As the cryptocurrency market shows signs of recovery from recent trade-war volatility, Solana (SOL) has been navigating a critical price range. After dipping below $100, SOL reclaimed the $120 level and is now consolidating with eyes set on breaking the $125 resistance—a key milestone that could propel it toward $135. However, the recent unstaking of 186,000 SOL tokens by FTX has raised concerns about potential selling pressure. With Solana’s historical exposure to FTX’s collapse still fresh, traders are weighing the risks of a price setback against the potential for a sustained rally. Here’s a breakdown of the current market dynamics and what to watch next.

FTX Unstaked 186,000 SOL Tokens—Should You be Worried about the Upcoming SOL Price Rally?

The markets are recovering from trade-war turmoil, dragging the Solana price below $100 but failing to sustain below that range. The SOL price reclaimed $120 and has been consolidating, aiming to reclaim the crucial resistance at $125, which could pave the way to $135. However, if selling pressure mounts, the token may face a significant setback. Solana was heavily exposed after the collapse of the FTX exchange in 2022.

Bitcoin Shows Record Profitability Against Struggling Ethereum

Bitcoin has taken a substantial lead of 85% over Ethereum in terms of realized capitalization, indicating increased investor confidence in the world’s leading cryptocurrency. Since the collapse of the FTX exchange platform in November 2022, Bitcoin’s realized capitalization has grown spectacularly by 117%, reaching $468 billion. In contrast, Ethereum’s realized capitalization grew by only $61 billion, representing a rise of 32%. Realized capitalization, which measures actual capital flows, is considered a more reliable indicator of investor confidence than simple market capitalization. This performance occurs in a volatile market context.