FTX’s recent plan to repay creditors has sent ripples through the cryptocurrency market, with Solana (SOL) experiencing significant impact. The announcement of a $5 billion disbursement strategy led to a 4% decline in Solana prices on May 16th, bringing it close to its April end point. This drop is attributed to FTX releasing substantial Solana reserves and increased selling pressure within the market. 1.4 million SOL tokens were withdrawn from exchanges last week alone, further exacerbating this trend and triggering a drop below $170. 5 billion in digital assets will be distributed starting May 30th through platforms like BitGo and Kraken, driving heightened market volatility. While the plan is expected to conclude on May 30th, uncertainty lingers about its full impact on Solana’s short-term performance.