More selling pressure on $SOL could be on the way. About 11 hours ago, FTX #unstaked and transferred 185,345 SOL worth $22.9 million to 38 different wallet addresses, which is likely preparing for deposits to exchanges.

Since November 2023, FTX has already unstaked and sold 8.019 million SOL worth $1.009 billion.

As of now, FTX still holds 5,502,525.61 #sol valued at $697 million. If they continue to offload their holdings, more selling pressure could definitely hit the market.