SOL is about to face a huge unlocking wave. On March 1st, 11.16 million SOL held by FTX will be unlocked, estimated to be around $20 billion based on current value, accounting for 2% of the total Market Cap of SOL. Not only that, there are also unlocking plans in September and November. 2025 is undoubtedly a year with an unprecedented scale of SOL unlocking.

However, when it comes to the unlocking of SOL, the market views are polarized. Many people believe that the unlocking will not have a substantial impact on the price of SOL. The unlocking itself does not indicate anything. The key lies in the direction of market sentiment and the manipulative techniques of the whales. Looking back, SOL has been surrounded by negative news, being classified as a security, and facing a crisis where the unlocked SOL held by FTX is used to compensate losses. However, who would have thought that in this bull market, among the mainstream altcoins with high Market Cap, only SOL stands out. Many tokens were not favored before unlocking, investors rushed to sell, but after the unlocking, the price rose significantly. In the cryptocurrency world, purely rational analysis often does not work. Otherwise, Ethereum would have long driven related tokens to surge in value with its application ecosystem, and meme coins would not have become popular, ending up as neglected 'scum.'

What do you think of the above view? For me, the current market price of SOL seems to have already provided some kind of answer.