A lot of people seem to be falling for the Solana hype. But the top 10 wallets hold 10% of supply and the top 100 own over 30% of it. That's a big risk to take if/when they decide to sell. FTX also still holds a lot to sell to recover funds

Solana used to be the butt of the jokes here and generally in crypto circles but money and greed is a big motivator. All of a sudden you were seeing posts of bullishness and hype in crypto circles when the prices started to pump. Gone was the fears of VC investment and big insider firms and individuals who control/own it. Also gone was the talk of how unreliable the network was. I will say that they seem to have made improvements to the network but that's far from saying it is sufficient and acceptable.

But the network is far from decentralized which is supposed to be the aim in crypto. CoinCarp has the stats:

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https://preview.redd.it/s0awk0kom51c1.png?260&format=png&auto=webp&s=9c6141a9b1bcbd83b429cf6c20ce482073c6371d

It's clear that just a small portion of wallets own much of the supply anyway you look at it. This is of course a big risk to take if you plan to hold Solana. On top of this, FTX/Alameda themselves held and still hold large numbers of SOL and this was their second largest token holdings after FTT. Courts have approved FTX to sell 100 Million in tokens value every week. Naturally, as SOL is one of their largest holdings it will be one of the larger sells the perform to recover customer funds.