Solana 11.2 million Sol icon is scheduled to make a value of about $ 1.57 billion. The opening of this is part of the continuous bankruptcy process for the separate FTX exchange.
It is worth noting that the cancellation of the lock comes at a time when the escalating legal expenditures FTX are one of the most expensive semester cases in the history of the United States.
Open the huge Solana icon for the FTX Estate
The data on the series shows that unlawful Sol represents about 2.2 % of the Solana supplies, which is currently 488 million icons.
However, FTX ESTATE has two smaller Solls in the coming months. On April 1, 12,700 Sol will be released, followed by 73,700 Sol on May 1.
These symbols were part of the FTX holdings, which were sold at reduced investors in previous auctions.
Sunil Cavouri, the main defender of the creditor, revealed that FTX has liquidated 41 million closed Souls across three auctions. According to him, buyers included investment companies such as Galaxy Digital and Pantera Capital.
In fact, Galaxy Digital, the largest buyer, got 25.5 million closed Solly at $ 64 per code, much lower than the current market price of $ 144.
Pantera and other companies purchased at about $ 95 per code. Meanwhile, the number and its partners got Sol at $ 102.
Arthur Chiong, founder of Defiance Capital, confirmed his participation in selling Galaxy Capital Overton (OTC). He stated that he bought an unknown amount of Sol at $ 64 per code. Chiong also mentioned that he does not have plans for sale, because he expects a significant increase in prices.
“Participate in the Sol otc deal at $ 64 via Galaxy and received the opening of the bullet today. Not one of them is sold. I think it will be much higher in 3 months,” Cheong I mentioned.
Meanwhile, the launch of Sol Tokens raises concerns about the potential sale pressure. A flood of new symbols may increase the supply and pay their prices down.
During the past week, the Solana price fell to its lowest level for four months, about $ 136, amid a decrease in the broader encryption market. However, the value of digital assets has been recovered from about 140 dollars until the time of the press.
Moreover, this development comes at a time when the FTX bankruptcy procedures entered a critical stage, with primary creditors distributions.
However, the legal expenses related to the case are close to one billion amazing dollars, which places it among the most file files 11 in the history of the United States.
Disintegration
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