SOL will unlock a large amount of funds on March 1, and VCs will have unrealized profits of hundreds of millions of dollars

Odaily News There is one week left until Solana’s largest ever token unlock (worth $2 billion), with 11.2 million SOL unlocked for circulation on March 1. The token unlock could bring significant selling pressure to Solana, as a large portion of the locked tokens were purchased at a discount at the FTX auction compared to today’s price.
Crypto analyst Artchick.eth said that more than 15 million SOL (about $2.5 billion) will enter circulation in the next three months, most of which will be purchased by institutions such as Galaxy Digital, Pantera Capital and Figure through FTX auctions at $64 per SOL. Galaxy still has a huge profit on the SOL purchased at $64.
Similarly, cryptocurrency trader RunnerXBT mentioned that now is a “dangerous” time to buy Solana, and emphasized that once SOL is unlocked, Galaxy Digital, Pantera, and Figure will receive unrealized profits of $3 billion, $1 billion, and $150 million, respectively. (Cointelegraph)