The FTX estate is offloading its third tranche of locked Solana this week after an initial large sale and a smaller auction last month. Bidding for the latest tranche of SOL is set for May 9, according to a source familiar with the process. It’s currently unclear how many coins are being auctioned in this tranche.

The FTX estate is in the process of selling around 41 million locked Solana. The coins are to be unlocked over a four-year period, and staking rewards will be released per the vesting schedule.

The first sale occurred in March, with tokens sold for $64 each to bidders such as Galaxy Trading and Pantera, The Block previously reported. The size of the overall sale, Bloomberg reported, was around two-thirds of the estate's total Solana holdings — which would suggest a total …