Solana Plunges 20% as FTX Liquidation Fears and Market Woes Mount
Solana (SOL) has faced a sharp decline in April 2025, dropping over 20% to $125 amid broader market pressures and lingering FTX-related sell-off concerns. With 61% of FTX’s $800 million liquidations tied to SOL, investors remain cautious as bearish sentiment builds.
SOL Drops 20% Amid Market Pressures and FTX Concerns
Solana (SOL) is experiencing a significant price drop in April 2025, with a decline of over 20% to $125. The blockchain giant, once seen as a promising Ethereum alternative, now faces headwinds due to broader market pressures and lingering concerns related to the defunct FTX exchange. Reports indicate that 61% of FTX’s $800 million in liquidated assets are tied to Solana, casting a bearish shadow over its price action. An expected sell-off from the FTX estate, scheduled for May 30, could further flood the market and drive SOL’s price lower. Amid the market chaos, SOL’s price dropped to $102 in just a few hours, following the broader trend of major currencies.
Hawk Tuah Podcast Returns With KSI as First Guest Following Past Crypto Controversies
Viral sensation Haliey Welch, known as “Hawk Tuah Girl,” has revived her Talk Tuah podcast after a hiatus. The first episode since December 2024 featured YouTuber KSI. Welch had been lying low since the collapse of the Solana-based HAWK meme token she promoted, which soared to a $490 million market cap before plummeting 93% in minutes. The collapse led to widespread backlash and the temporary deactivation of her social media accounts.
Solana Launches Confidential Balances Token Extensions
Solana has introduced Confidential Balances, a ZK-powered encrypted token standard that allows for configurable privacy without compromising its sub-second finality. These extensions are implementation-ready for server-side Rust, custodial WaaS, and confidential dApps, with client-side proofs for self-custody wallets planned for 2025. Confidential Balances aim to power private financial use cases like encrypted payroll and secure B2B payments, enhancing transaction privacy. The extensions, which include Encrypted balances & transfers, Mint/burn ops with discrete total supply, and Discrete fee handling, have debuted on Solana’s mainnet, making it the first ZK-powered encrypted token standard built for institutional compliance without sacrificing sub-second finality.
Whales Trigger a Huge Sell-Off: Solana (SOL) Price Rally Feared to Drop by 20% This Month
After facing rejection near $300, the Solana (SOL) price plunged and breached the lower ascending support held throughout 2024 due to Trump’s Liberation Day. While the major support range still keeps bullish hopes alive, recent bearish activity from whales may hinder the SOL price rally, initiating a significant sell-off. Data from Lookonchain confirms whales are heavily dumping SOL.
