SOL sees big unlocking on 1 March, VC unrealised profits in hundreds of millions of dollars

We are currently one week away from the largest token unlock in Solana's history (worth $2 billion), with 11.2 million SOLs unlocking into circulation on 1 March. The token unlock could put significant selling pressure on Solana, as a large portion of the locked tokens were purchased at a discounted price at the FTX auction compared to today's price.
Crypto analyst Artchick.eth says that more than 15 million SOLs (about $2.5 billion) will enter circulation over the next three months, most of which were purchased by institutions such as Galaxy Digital, Pantera Capital, and Figure through the FTX auction at $64 per SOL. The SOLs that Galaxy purchased at $64 still have a handsome profit. Galaxy's $64 purchase of SOLs is still very profitable.
Similarly, cryptocurrency trader RunnerXBT refers to this as a ‘dangerous’ time to buy Solana, highlighting that once the SOLs are unlocked, Galaxy Digital, Pantera, and Figure will receive $3 billion, $1 billion, and $150 million in unrealised profits, respectively. Realised profits.