Solana

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<p>The post <a rel="nofollow" href="https://coinpedia.org/altcoin/solana-sol-price-predictions-amid-ftxs-ambitious-3-4-billion-asset-sale/">Solana (SOL) Price Predictions Amid FTX’s Ambitious $3.4 Billion Asset Sale</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>The cryptocurrency market has been rattled by an 11.07% decline, leaving digital asset values in turmoil. Reports have emerged indicating that FTX, a prominent cryptocurrency exchange, is actively pursuing legal approval to offload its cryptocurrency holdings, which are currently estimated to be valued at a staggering $3.4 billion. Among these holdings is the highly regarded Solana (SOL) cryptocurrency.</p> 
<h2 id="ftxs-ambitious-plan-selling-200-million-in-cryptocurrencies-weekly" data-name="ftxs-ambitious-plan-selling-200-million-in-cryptocurrencies-weekly" class="wp-block-heading"><strong>FTX’s Ambitious Plan: Selling $200 Million in Cryptocurrencies Weekly</strong></h2> 
<p>However, concerns have rippled through the cryptocurrency community regarding the fate of Solana. These concerns stem from FTX’s intent to liquidate a substantial portion of its SOL holdings. A notable cryptocurrency figure, known as Crypto Rover, voiced these concerns through a tweet, hinting at the possibility of a financially strained FTX exchange obtaining approval to sell a significant portion of its cryptocurrency assets. </p> 
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   <p lang="en" dir="ltr">FTX is expected to receive approval to liquidate the following assets on September 13th.<a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> $685,000,000<a href="https://twitter.com/search?q=%24FTT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$FTT</a> $529,000,000<a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> $268,000,000<a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> $90,000,000<a href="https://twitter.com/search?q=%24APT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$APT</a> $67,000,000<a href="https://twitter.com/search?q=%24DOGE&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$DOGE</a> $42,000,000<a href="https://twitter.com/search?q=%24MATIC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$MATIC</a> $39,000,000<a href="https://twitter.com/search?q=%24BIT&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BIT</a> $35,000,000<a href="https://twitter.com/search?q=%24TON&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$TON</a> $31,000,000<a href="https://twitter.com/search?q=%24XRP&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$XRP</a> $29,000,000<br><br>They had $3.4… <a href="https://t.co/ydEohN23EX">pic.twitter.com/ydEohN23EX</a></p>— Crypto Rover (@rovercrc) <a href="https://twitter.com/rovercrc/status/1700575710484541843?ref_src=twsrc%5Etfw">September 9, 2023</a>
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<p>Most notably, among these assets, Solana stands out, with FTX aiming to liquidate SOL tokens worth a staggering $685 million. Furthermore, FTX’s proposal to engage in a weekly sale of cryptocurrencies valued at $200 million has stirred significant attention within the crypto community, giving rise to bearish sentiments.</p> 
<h2 id="analysts-predict-potential-downward-pressure-on-solanas-price" data-name="analysts-predict-potential-downward-pressure-on-solanas-price" class="wp-block-heading"><strong>Analysts Predict Potential Downward Pressure on Solana’s Price</strong></h2> 
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   <p lang="en" dir="ltr"><a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> I feel sorry for any moonboy holding this knowing that FTX is going to sell off $628 million worth of <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$SOL</a> imagine the idiocy of hodling when you can just buy it at $5-$8 real soon!! <a href="https://t.co/CgTdm5iwIq">pic.twitter.com/CgTdm5iwIq</a></p>— Bleeding Crypto (@Bleeding_Crypto) <a href="https://twitter.com/Bleeding_Crypto/status/1700736231494287368?ref_src=twsrc%5Etfw">September 10, 2023</a>
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<p>In response to this unsettling situation, a renowned crypto trader, going by the moniker ‘Bleeding Crypto,’ offered an alternative perspective by expressing limited sympathy for Solana investors. The trader suggested that selling SOL now and contemplating repurchasing the digital asset within the $5 to $8 price range might be a more prudent course of action. In a related conversation, a cryptocurrency enthusiast even <a href="https://twitter.com/tradersamuraii/status/1700771371649782069">posited</a> that SOL was initially on a trajectory to reach $14 but that the developments surrounding FTX might hasten its descent.</p> 
<h2 id="solana-ambassador-provides-reassurance-ftxs-sale-of-685m-sol-is-not-immediate" data-name="solana-ambassador-provides-reassurance-ftxs-sale-of-685m-sol-is-not-immediate" class="wp-block-heading"><strong>Solana Ambassador Provides Reassurance: FTX’s Sale of $685M SOL Is Not Immediate</strong></h2> 
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   <p lang="en" dir="ltr">The FTX collapse and consequently biggest black swan Solana ever endured put SOL at $8<br><br>And we're worried about ~$600M that will be sold over the course of the next 5 years?<br><br>Some Major L1s have higher inflation than this and no one cares.</p>— Gumshoe (@0xGumshoe) <a href="https://twitter.com/0xGumshoe/status/1700913518285881642?ref_src=twsrc%5Etfw">September 10, 2023</a>
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<p>To address the raised concerns, Gumshoe, a trusted Solana ambassador, offered a reassuring perspective. He underscored that Solana’s most significant setback occurred during FTX’s financial troubles, a period when SOL briefly dipped to $8 but swiftly rebounded and currently maintains a trading value above $18.1. Additionally, Gumshoe clarified that the reported sale of Solana tokens would not transpire immediately but rather be phased in over the course of five years. This extended timeline aims to mitigate any abrupt market shocks and minimize disruptions.</p> 
<h2 id="optimism-persists-among-solana-investors" data-name="optimism-persists-among-solana-investors" class="wp-block-heading"><strong>Optimism Persists Among Solana Investors</strong></h2> 
<p>Despite the recent developments causing turbulence, many Solana investors remain resolute in their optimism for the cryptocurrency’s future. They maintain unwavering faith in Solana’s advanced technology and the steadfast support of its robust community, factors that continue to propel its growth.</p>

Solana (SOL) Price Predictions Amid FTX’s Ambitious $3.4 Billion Asset Sale

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