FTX's substantial $10 million sale of Solana (SOL) has investors on edge. Discover the key points and implications of this crypto move.
However, recent data suggests that SOL’s price experienced a drop of over 0.2% in the last 24 hours, potentially due to FTX’s actions. FTX transferred more than 300,000 SOL tokens, valued at over $10 million, which may have contributed to this price dip.
Despite FTX’s transfer of SOL tokens, it is worth noting that investors have not been actively selling the token, as indicated by Solana’s liquidity heatmap provided by Hyblock Capital. The most significant liquidation event occurred on October 27, coinciding with SOL’s price surpassing the $33 mark.
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Disclaimer: Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.
Originally published at https://cryptosnewss.com on October 30, 2023.