Solana Has Difficulty With The Situation Of Unlocking A Large Number Of Stake Tokens
Will Solana’s unstake plan result in a drop in SOL’s value?
A large number of SOL validators have stopped staking 29.2 million SOL in preparation for withdrawal within the next few hours. This is the second-largest volume of tokens unlocked in SOL’s history amid the post-FTX crisis of the entire crypto market.
However, according to the Solana Foundation, Hetzner fired a large number of SOL’s independent validators on November 2. In order to restake to validators working in alternate regions, the foundation started the process of unstaking the 28.5 million SOL allocated to those validators as part of the foundation’s Delegation Program, which went into force at epoch 370.
The decision to unstake has since been delayed, and all 28.5 million SOL have been re-staked.
At the time of writing, SOL is trading at $15.
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