Solana Price Drops Below $160 Amidst Concerns Over FTX Unlock Event

Solana’s price has taken a significant downturn, falling below $160 due to market jitters surrounding the upcoming FTX unlock event. This event will see 11.2 million SOL tokens unlocked on March 1st, which some traders fear could increase supply and drive further losses. Weekly decentralized exchange (DEX) volume on Solana has also plummeted by 36.35% reflecting a broader market cooling trend. ,