Solana

<ul><li>Solana (SOL) lockup agreement limits immediate sell-off, easing market fears.</li><li>FTX&#39;s $3.4 billion liquidation plan imposes strict token sale conditions.</li><li>Solana (SOL) investors are instructed to stay vigilant but avoid panic as FTX&#39;s bankruptcy unfolds.</li></ul>Solana (SOL) has seen a significant <a href="https://coinmarketcap.com/currencies/solana/" rel="noopener noreferrer nofollow">6%</a> price drop over the last 24 hours, igniting concerns within the crypto community. This decline in Solana&#39;s value is closely linked to the looming spectre of FTX, a cryptocurrency exchange that went bankrupt.FTX is scheduled for a pivotal hearing in the Delaware Bankruptcy Court on September 13, where it intends to seek approval for liquidating a substantial chunk of its crypto assets, totaling a staggering $3.4 billion. Among these assets, Solana (SOL) holds a prominent position.The DeFi Investor has recently commented on the current state of Solana (SOL) in a tweet that shed light on the crypto market&#39;s dynamics. In their tweet, they likely touched upon the factors contributing to Solana&#39;s performance and the impact of FTX&#39;s impending liquidation.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/1d22103db44a4513bba7fe8f70b83805.png" />However, a crucial detail has been somewhat overlooked amidst the anxiety surrounding this potential liquidation. The SOL tokens held by FTX debtors are not immediately available for sale. A lockup agreement burdens these tokens. This arrangement was established between FTX and its affiliate, Alameda Research during their acquisition of 16% of the SOL supply from the Solana Foundation.This lockup agreement outlines a gradual monthly release of SOL tokens, stretching to January 2028. Specific tranches, including the 7.5 million SOL acquired from Solana Labs by Alameda Research, will only become accessible on March 1, 2025, with another 61,853 SOL set to unlock on May 17, 2025.Read full article at<a href="https://cryptotale.org/solana-sol-price-plummets-6-ftx-bankruptcy-concerns/" rel="noopener noreferrer nofollow"> CryptoTale .</a>

Solana (SOL) Price Plummets 6%: FTX Bankruptcy Concerns

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