SOL will unlock a large amount of funds on March 1, and VCs will have unrealized profits of hundreds of millions of dollars

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ODAILY
02-24
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Odaily reports that there is only one week left until the largest token unlock in Solana's history (worth $2 billion). On March 1st, 11.2 million SOL tokens will be unlocked and enter circulation. The token unlock could put significant selling pressure on Solana, as a large portion of the locked tokens were purchased at a discount during the FTX auction. Crypto analyst Artchick.eth stated that over the next three months, more than 15 million SOL (around $2.5 billion) will enter circulation, most of which were purchased by institutions like Galaxy Digital, Pantera Capital, and Figure at $64 per SOL through the FTX auction. Galaxy's SOL purchased at $64 still has substantial profits. Similarly, crypto trader RunnerXBT mentioned that this is a "dangerous" time to buy Solana, and emphasized that once the SOL is unlocked, Galaxy Digital, Pantera, and Figure will respectively realize $300 million, $100 million, and $15 million in unrealized profits.

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