According to ChainCatcher's message reported by Cointelegraph, the crypto market maker Wintermute has withdrawn $38.2 million worth of SOL from Binance in the past 24 hours. There is still one week until the largest token unlock in Solana's history (worth $200 million), with 11.2 million SOL set to be unlocked and circulated on March 1. The SOL price has been under pressure recently, dropping over 7.5% in the past 24 hours to a near three-month low of $155.

Crypto analyst Artchick.eth stated, "Over the next three months, more than 15 million SOL (around $2.5 billion) will enter circulation, with the majority purchased by institutions like Galaxy Digital, Pantera Capital, and Figure through the FTX auction at $64 per SOL, leaving these VCs with substantial profits."

Trader RunnerXBT pointed out that "Galaxy Digital, Pantera, and Figure hold unrealized profits of $300 million, $100 million, and $15 million, respectively, in SOL. The market speculates that these institutions may sell their holdings, and the recent LIBRA meme coin scam endorsed by the Argentine president Milei has exacerbated market panic."