The impending $2 billion SOL unlock from the FTX bankruptcy estate has sparked speculation about whether the altcoin could sink to $100 in the coming weeks. On top of that, Binance has been offloading large amounts of SOL through Wintermute, fueling concerns that insiders may already know what’s coming next.
Binance Dumps SOL as Market Maker Wintermute Steps In
Crypto analyst Crypto Rover raised alarms after discovering that Binance had been selling large amounts of Solana through Wintermute in the last four hours. The timing of these sales, combined with the upcoming FTX bankruptcy auction, has fueled speculation about whether institutional players are front-running a deeper crash.
Wintermute Moves Massive SOL Holdings Amid Market Activity. Source: Crypto Rover/X
The $2 billion worth of SOL set to hit the market next week is expected to dramatically increase supply, potentially overwhelming demand. Some investors worry that this sudden liquidity influx could send Solana’s price spiraling toward the $100 level, especially with weak buying pressure in recent days.
SOL OI-Weighted Funding Rate chart. Source: Coinglass
Adding to the panic, short positions on Solana are increasing, with the OI-Weighted Funding Rate at -0.0023%, indicating that traders are betting on further downside. The fear of liquidation cascades is also weighing on sentiment, as large liquidations between $120 and $160 could accelerate SOL’s decline.
PumpFun’s AMM: Can It Prevent Solana From Crashing to $100?
As bearish sentiment grips the market, PumpFun has introduced an Automated Market Maker (AMM) liquidity pool designed to boost Solana’s network activity and meme coin trading volume. The initiative aims to increase on-chain demand for SOL, potentially offsetting some of the selling pressure caused by the FTX unlock and Binance’s market activity.
Solana Transaction Shows 1,000 ‘Crack’ Tokens Minted. Source: X
By allowing decentralized trading on Solana without relying on external DEXs like Raydium, PumpFun’s AMM could increase transaction volume and utility for SOL. However, it remains unclear whether this innovation will be enough to counteract the massive supply shock heading toward the market.
Traders are watching closely to see if this new liquidity initiative can spark renewed interest in Solana. If PumpFun’s AMM successfully attracts more users and liquidity, it could help stabilize SOL’s price, at least in the short term. But with billions of dollars worth of tokens set to flood the market, the downside risks remain high.
Will Solana Crash to $100 or Rebound Toward $1,000?
Amid the growing uncertainty, some analysts, including Captain Faibik, believe Solana could still hit $1,000 in the next bull rally—but only if it clears critical resistance levels. According to Faibik, SOL bulls are struggling at a key horizontal resistance on the monthly chart, and a breakout above this level could trigger a massive price rally.
Source: Captain Faibik
However, other analysts, like Crypto McKenna, warn that Solana has turned structurally bearish after losing support at $167-$169. McKenna sees the potential for SOL to drop to the $112-$126 range, with an extreme downside target of $79 if selling pressure intensifies.
SOL/USDT 1-day Chart. Source: Crypto_McKenna
Adding fuel to the fire, Bybit’s hacker has been laundering stolen funds using Solana-based meme coins, further damaging investor sentiment. The large number of long traders being liquidated is also accelerating the downtrend, with major liquidations clustered between $120 and $160, according to Coinglass.
The next few weeks are make-or-break. If buyers can’t hold the line, $100 might be closer than we think. But here’s a twist—what if the big shots snagging SOL from the FTX auction decide to sit tight instead of selling?
The post Solana Faces $2B Sell-Off Pressure — Will SOL Price Crash to $100? appeared first on Coinchapter.
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