Solana price is showing renewed bullish momentum, pushing past $237 while setting its sights on the critical $250 resistance level, although analysts warn that potential sell-off pressures and inflation risks could temper the token’s upward trajectory.
The rally comes as the FTX and Alameda estate continue their structured liquidation of Solana (SOL) from staking, a process that has drawn close attention from investors and market watchers.
FTX estate unstakes $45 million SOL
The bankrupt FTX and Alameda estate recently withdrew approximately 192,000 SOL, worth around $44.9 million, from staking positions, continuing a pattern of near-monthly redemptions that has been in place since November 2023.
According to blockchain analytics provider EmberCN, the estate has now unstaked a cumulative total of nearly 9 million SOL, valued at roughly $1.2 billion at an average price of $134 per token.
Despite these ongoing redemptions, the estate still holds a substantial Solana position.
Data from Solscan indicates that around 4.18 million SOL, currently valued at about $977 million, remains staked.
This continued liquidation is part of the broader restructuring plan to repay creditors, with FTX having already returned $6.2 billion through previous distributions and preparing a third payout on September 30, 2025.
Solana price eyes $250 as bullish momentum builds
Solana’s recent surge has been quiet but significant. In the past week alone, SOL has risen over 16%, reflecting broader bullish sentiment in the market.
Coingecko shows SOL trading at $237.81, with a 24-hour gain of 6.5% and a market capitalization nearing $129 billion.
These gains come amid a 14.4% weekly increase and rising trading volumes, suggesting strong investor interest.
The token has broken from a cup and handle pattern that had been in formation since February, signalling the potential for a major rally ahead.
Technical insights from Coinlore suggest that SOL must stay above $230.32 to maintain upward momentum, with $248.24 identified as the first major resistance.
Clearing this level could unlock additional gains, potentially taking the token to $263.78 and beyond, with Jelle, a crypto commentator on X, predicting that a breakout above $250 could pave the way for a long-term target as high as $600.
Inflation and sell-off risks weigh in
Despite the optimistic outlook, some experts caution that risks remain. Whale.Guru highlighted that while SOL’s price has yet to surpass its 2021 highs, its market capitalization is approaching a new all-time high, a divergence that may signal inflationary pressure on the token.
This discrepancy could pose a risk if momentum stalls or if investors react to further large-scale liquidations from FTX’s estate.
Additionally, the broader crypto ecosystem continues to navigate regulatory and legal challenges. FTX’s bankruptcy proceedings remain ongoing, with disputes from international creditors highlighting the complexities of the recovery process.
Meanwhile, the legacy of the FTX collapse continues to reverberate through the market, serving as a reminder that even high-performing tokens like Solana (SOL) can be affected by external shocks.
A cautious but optimistic outlook
The coming weeks will be telling for Solana (SOL) cryptocurrency, as the market evaluates whether its momentum can translate into sustained gains or if the combination of liquidation pressure and speculative hype could trigger a retracement.
For traders and long-term holders alike, balancing optimism with caution remains the key to navigating the evolving landscape of the cryptocurrency.
If the Solana price can sustain levels above $230 and break through the $250 threshold, analysts believe a new price discovery phase could be underway.
However, careful monitoring of staked SOL liquidations and market cap inflation will be crucial for investors seeking to navigate this volatile environment.