FTX sold 22.9 million USD of Solana, contributing to a total of about 1 billion USD sold since November 2023. This has raised concerns regarding Solana’s recovery potential as it has experienced 400 million USD in outflows this March.

Despite a recent positive signal from CME Futures, Solana’s price is at 127 USD, marking a 57% drop from its peak at 295 USD, indicating that market sentiment remains fragile. Investors are advised to be cautious, especially with an uncertain macro environment.