Major Solana Unlock Triggers Potential Selling Pressure in Crypto Market

A significant unstaking event involving $33.27 million worth of Solana (SOL) has raised eyebrows across the cryptocurrency landscape. On April 4th, blockchain analytics platform Onchain Lens reported that over 425,000 SOL, equivalent to roughly $49.78 million, was released from staked wallets, marking one of the largest scheduled unlocks until 2028. Shortly after, a considerable portion of this unstaked SOL (284,147 SOL) was deposited onto major exchanges like Coinbase, Kraken, and Binance. This move has fueled speculation about potential selling pressure in the crypto market.