SOL's Decline Accelerates as FTX Begins Auction for Locked Solanas.

The auction has started in the 3rd sale process of locked SOL assets in the portfolio of FTX, the cryptocurrency exchange that manages the bankruptcy process.

FTX, which sold a high amount of SOL in the first sale, held an auction for a lower amount last month. The bidding period for locked Sol assets will end on May 9, a source with knowledge of the process said, according to Block's report. However, it is not yet known how much SOL assets will be sold in the 3rd sales phase.

FTX plans to sell approximately 41 million SOLs at the end of this process.

FTX began selling crypto assets last year as part of plans to repay its creditors. In the Solana sale, which first took place in March, crypto assets were sold to Galaxy Trading and Pantera for $64. Bloomberg reported at the time that the total sale was about two-thirds of the company's Solana assets.

This means FTX generated approximately $1.7 billion in revenue from sales.

In the second sales phase, FTX sold a much smaller amount of assets, SOL 1.8 million. In this auction, bids were said to be between $85 and $110 per coin. Sources reported that offers of $95 and above were accepted. At last month's auction, the SOL was priced in the $150 range.

The bidding period for FTX's SOL assets will end this week, and the price of the cryptocurrency appears to be close to its price during last month's auction.

Another development regarding FTX today is about refunds. The cryptocurrency exchange, which is in the bankruptcy process, announced in the notification published yesterday that 98 percent of the creditors can be paid at a rate of 118 percent after court approval.