$SOL A bunch of incomprehensible random analyses, look here

Solana (SOL) has recently experienced a significant decline primarily influenced by the following factors:

1. Selling pressure from the bankruptcy liquidation of FTX

• Approximately 11.2 million SOL from FTX's bankrupt assets is expected to be unlocked on March 1, 2025, with a total value exceeding $2 billion, accounting for about 2% of SOL's total market capitalization.

• Investors are concerned that this batch of tokens will be heavily sold off after release, leading to an increase in market supply and subsequently lowering SOL prices.

2. Decrease in on-chain trading volume and weakened demand

• The trading volume on Solana's DEX (decentralized exchanges) has significantly decreased, with trading volumes for platforms like Raydium and Orca dropping by about 40%.

• This has resulted in reduced market activity, weakened investor confidence, and further price pressure.

3. Rise of competitors affecting Solana's market share

• Ethereum Layer 2 solutions (such as Arbitrum and Optimism) are developing rapidly, attracting some capital and users, impacting Solana's market position.

• Other emerging public chains (such as Sui and Aptos) are also gradually capturing market share, creating competitive pressure on Solana.

Current SOL price

• Current price of SOL: approximately $165.69

• Single-day decline: approximately 9.25% (-$16.88)

• Intraday high: $186.63

• Intraday low: $164.52

The core issue of this decline lies in the supply pressure brought by the unlocking of FTX's bankrupt assets, and the market may continue to experience volatility in the short term. It is recommended to closely monitor subsequent unlocking dynamics and the development trends of the Solana ecosystem.