Over 1.3 million SOL tokens were unlocked, marking the largest single unlock of staked Solana tokens until at least 2028.
Approximately 425,000 SOL tokens worth nearly $50 million have already been unstaked and moved to exchanges, with over 280,000 tokens valued at around $33 million transferred to centralized exchanges.
The large-scale unlock follows the release of 11.2 million SOL tokens by the FTX bankruptcy estate in March, with continued movement of assets tied to the failed exchange.
The unlocking of a large number of tokens could increase market volatility and potentially put downward pressure on Solana's price.