Crypto Drama Unfolds: FTX Unstaked $30M in SOL—Will Solana Survive the Shake-Up?

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In a world where crypto blooms like wildflowers after a rain, the market’s vibrant greens are upon us once again. Lo and behold! Bitcoin has surged to an unprecedented height, basking in the sunlight of a glorious $118K. Major altcoins, including the likes of Ethereum, XRP, and our very own Solana, have joined the revelry, tossing confetti of profits ranging from 5% to 8%. 🌺 But amidst this merry chaos, FTX, the overzealous gardener, has decided to prune its SOL stakes today.

FTX Drops a Staggering $30.9 Million in SOL—Is a Sale around the Corner?

According to the oracle known as lookonchain, FTX kindly staked 189,851 SOL, a cool $30.94 million in today’s market. This act raises a curious eyebrow—is a wave of selling pressure on the horizon for our beloved token in this exuberant bull run? Sure, it’s not the first time we’ve seen this dance, yet in a period brimming with optimism, some wags question if this could rattle the tender hearts of SOL enthusiasts just when they dared to dream. 🐄💔

FTX/Alameda just unstaked 189,851 $SOL($30.94M)—a true magician’s trick! 🎩✨

— Lookonchain (@lookonchain) July 11, 2025

As the tides of bankruptcy swirl around FTX, it’s been methodically unstaking Solana to repay its loyal creditors. On March 4, 2025, it unlocked 3.03 million SOL—worth a gigantic $431 million! 🎢 And the saga continues; May 12 saw them unstaking 187,625 SOL valued over $32 million followed by 188,000 SOL on June 13. Like a relentless tide, they keep coming!

Solana Holds Strong at $164—A Resilient Titan

Yet, in the midst of this grand drama, Solana stands tall, untouched and resolute at $164.71, enjoying a delightful 4.5% rise in the last 24 hours. Institutional interest in Solana is on the rise—funny how a little extra supply doesn’t seem to faze it! With more money flowing in than a summer rain, some analysts whisper that this is merely the beginning, with $180 not being too far off. The golden days could soon return! 🌟🥳

Solana has not only led the charge but pulled in $271 million in revenue in Q2 2025, triumphing over Ethereum, Tron, and more, marking its third consecutive quarter at the apex. This surge, electrified by DeFi and NFT activities, shows that this ecosystem means business.

Not to forget, in a dazzling show of might, Solana matched the monthly active users of every other L1 and L2 chain combined in June—now that’s what we call a power play! 💪📈

The Titans of Industry Rally Behind Solana

Major players like BIT Mining are shifting gears to focus sharply on Solana, dreaming of a $200–300 million SOL treasury while setting the stage for validator nodes. Meanwhile, the DeFi Development Corp has flaunted its SOL holdings to a whopping 846,630 SOL worth an impressive $133 million, now standing as the largest among public companies. Who doesn’t love a bit of competition? 🏆💼

So here we stand, on the precipice of something grand, armed with growing partnerships and tantalizing murmurs of a spot ETF—could the future of Solana be as bright as its fervent supporters envision? The curtain rises, and the drama unfolds! 🎭✨

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2025-07-11 17:09