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Solana prices dropped close to 20% in under 24 hours to reach the lowest point in 2025.
Solana prices took a tumble on Monday, February 24, breaking through the $150.00 level and then extending losses as multiple bearish developments combined to fuel declines.
The native digital asset of the high-performance Solana platform reached as little as $137.77 near 6 p.m. EST, according to Coinbase data from TradingView.
At this point, it had lost close to 20% in under 24 hours, after rising to nearly $170.00 the night before, additional Coinbase figures from TradingView show.
‘Several Factors’ Fuel Declines
Analysts cited a range of different variables when explaining why Solana lost value.
“Solana’s recent price drop below $150 can be attributed to several factors, including the upcoming March 1st token unlock, which will release around 11.2 million SOL tokens, increasing selling pressure,” Joe DiPasquale, CEO of cryptocurrency hedge fund manager BitBull Capital, said via email.
These digital assets will be unlocked in relation to the bankruptcy proceedings for fallen exchange FTX, which collapsed in late 2022.
Smaller amounts of these tokens will be unlocked on April 1 (12,700 units) and May 1 (73,700 units), creating additional downward pressure.
Alex Lin, cofounder and general partner at venture capital firm Reforge, also commented on these developments via email, stating that “a looming token unlock event of ~11mn SOL tokens, valued at $1-2bn (depending on SOL price) is scheduled for Mar 1, 2025.”
