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• Solana’s volume has plummeted 99% from $1.99 billion in November to just $14.57 million
• SOL has dropped 15.56% in a single day, breaking below the critical $150 support level
• The price has fallen to $126, its lowest since mid-October 2024
• 11.2 million SOL tokens ($1.3 billion) are scheduled to unlock from the FTX bankruptcy estate on March 1
• Solana’s DeFi total value locked has decreased from $12 billion to $6.8 billion since mid-January

Solana (SOL-X) is experiencing heavy downward pressure, dropping below $130 for the first time since October 2024. The cryptocurrency has fallen 15.56% in a single day amid market-wide selling, with its price reaching $126 at press time.
The sharp decline comes just days before a scheduled unlock of 11.2 million SOL tokens from the FTX bankruptcy estate. This unlock, worth approximately $1.3 billion at current prices, is set to occur on March 1, 2025.
Among high-cap assets, SOL has led the market downturn with a nearly 20% weekly decline. The cryptocurrency has now erased 100% of its post-election gains, breaking below the critical $150 support level that had previously held firm.

 SOL Price

On-chain transfer volume for Solana has collapsed dramatically. Current volume sits at just $14.57 million, marking a staggering 99% decrease from its November peak of $1.99 billion.
The FTX bankruptcy estate has been gradually selling off assets to repay creditors. So far, 41 million SOL tokens have been sold to firms including Galaxy Digital, Pantera Capital, and Figure.
Market participants worry that the upcoming token unlock could introduce additional selling pressure. This concern has contributed to the recent price weakness, pushing SOL down 27% over the past week.
Technical indicators suggest more downside risk may lie ahead. Solana has now broken below the crucial support level of $127, with the next major support zones at $110 and $100.

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