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Solana is trading near $64 after gaining about 2.5% over 24 hours amid a broader crypto market rebound. Bitcoin also moved higher, while the total crypto market value recovered from recent lows.
However, SOL remains about 22% lower over seven days after falling from nearly $81 toward $62. A scheduled release of about 624,000 SOL on June 7 now adds a fresh supply test as buyers defend key support.
The June 7 release is the largest scheduled Solana unlock this month. At the current price, the tranche is worth about $40 million. Another release of nearly 200,000 SOL is scheduled for June 11.
Combined, the two main releases will add more than 823,000 SOL to available supply. However, their value remains small compared with Solana’s market capitalization and daily trading volume. The main concern comes from the weak market conditions surrounding the release.
These unlocks follow a known schedule, so traders have had time to prepare. Still, the timing has raised concern after SOL recorded a steep weekly decline. Added tokens “could increase selling pressure” if recipients move them to exchanges and sell into limited demand.
An unlock does not mean every released token will enter the open market. Token holders can retain their SOL, move it into staking, delegate it to validators, or transfer it between private wallets without selling.
Therefore, the full dollar value should not be treated as immediate sell-side supply. Actual pressure will depend on how recipients manage the tokens after they become available.
Solana’s staking system allows holders to delegate SOL to network validators and receive rewards. The Solana Foundation also runs a delegation program that supports hundreds of validators across the network.
This structure means some released tokens “may remain outside exchange order books.” However, wallet movements following the release will provide clearer evidence about whether holders plan to stake, retain, or sell their SOL.
SOL’s daily rebound mainly follows the wider market rather than a clear Solana-specific catalyst. Bitcoin gained alongside the move, while the broader altcoin market also recovered from heavy losses.
Solana often records larger price swings during market rebounds and declines due to its higher volatility. Therefore, Bitcoin price ability to remain above $62,000 may shape SOL’s next move.
Minor capital rotation into altcoins offered additional support. The Altcoin Season Index also moved higher, although it remained below the level commonly linked with a full altcoin season.
Current demand still appears modest. Moreover, SOL has not recovered enough ground to confirm that the seven-day decline has ended.
Solana is holding above immediate support near $62, while $60 remains the main level below it. A daily close under $60 “could expose” the $55 to $57 support range.
On the upside, SOL needs to reclaim $68 before buyers can test the $70 area. A stronger recovery would then face resistance near $75.
However, the rebound has not reversed the weekly downtrend. Trading volume must also improve before SOL can establish a stronger recovery structure.
Market participants are watching transfers from known vesting wallets. Large exchange deposits after the unlock could show that recipients plan to sell. Meanwhile, limited exchange inflows would suggest the market is absorbing the newly available supply.
