Reports reveal that FTX's bankruptcy administrators have recently sold a significant portion of Solana (SOL) tokens from a $2.6 billion stash at discounted prices. This move has attracted interest from industry players like Galaxy Trading and Pantera Capital, sparked by FTX's collapse in November 2022. The selling event, involving 25-30 million SOL coins at $64 each, raised $1.9 billion for FTX. Although the market price for Solana was approximately $172, the discounted sale indicates potential risk for buyers amidst SOL's volatile pricing.

Despite Solana experiencing a 7% drop in price over the past week, it has surged by nearly 80% in the last 90 days. At a current average price of $176.87, Solana boasts a 24-hour trading volume of $5.8 billion and a market cap of $78.7 billion. Galaxy Trading's $620 million fund, potentially focused on acquiring SOL tokens, highlights investors' willingness to take on such ventures despite management fees.

As earlier reports confirmed, FTX previously paused SOL sales due to high demand, without disclosing specific sales figures. Solana's network struggles with scalability issues, possibly due to the rising preference for meme coins, resulting in transaction failures above 70%. These challenges underscore the urgent need for network enhancements to meet increasing demands and ensure users' seamless transactions.