FalconX Withdraws $50.82M in SOL for Staking on Solana Network
FalconX transfers $50.82M in SOL for staking, strengthening Solana's network. Indicates robust institutional confidence in Solana's potential. Reduces SOL's circulating supply, possibly boosting price dynamics.
A newly created wallet withdrew 296,422 SOL from FalconX, worth $50.82 million, for staking, reported by BlockBeats on May 17, 2025. This SOL token movement suggests robust institutional confidence in Solana's continued viability, potentially impacting its market dynamics and boosting network security.
FalconX Commits $50.82 Million to Solana Staking
According to OnchainLens, a newly created wallet linked to FalconX withdrew and staked 296,422 SOL, valued at around $50.82 million. This action demonstrates FalconX's continued involvement in Solana, underscoring institutional interest in the blockchain, which has witnessed a resurgence post-FTX collapse.
Staking such a large quantity enhances Solana's network security and decreases its circulating supply, potentially affecting SOL's price. FalconX reinforced its commitment to boosting Solana access, while CME SOL futures provide further opportunities for institutional investors.