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Image Credit: Zycrypto

135 Solana Mega Whales Dump Holdings Amid Looming $2 Billion Token Unlock

  • Solana (SOL) faces selling pressure and reputation damage due to market weakness, meme coin frenzy, and pump-and-dump schemes.
  • 135 whales holding over 10,000 SOL have sold or redistributed their holdings in the past month.
  • An 11.2 million SOL (worth nearly $2 billion) token unlock by FTX on March 1 raises fears of a major selloff.
  • Solana's network activity has plunged, and its MEME index has declined around -6% in the past month.

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