Based

2024

Solana

Billion

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Given that FTX unstaked an astonishing amount of <a href="https://u.today/crucial-bitcoin-btc-price-test-incoming-dogecoin-doge-bullish-breakthrough-begins-solana-sol-aims" rel="noopener noreferrer nofollow">SOL</a>, the asset may be in for a difficult time in the foreseeable future. Based on reports, FTX reportedly owns $1 billion worth of <a href="https://twitter.com/lookonchain/status/1834498508478693526" rel="noopener noreferrer nofollow">Solana</a> at the moment. The company's recent actions may be an indication of an impending wave of sales that could significantly pressure the asset's price.&nbsp;
Though this news has caused some anxiety, there is not a need to panic just yet. Professionals managing FTX's asset liquidation are more likely to carry out these sales via market makers. This strategy ought to at least lessen the possible detrimental effect on <a href="https://u.today/solana-sol-price-prediction-for-september-12" rel="noopener noreferrer nofollow">Solana</a>'s price.&nbsp;
<blockquote>
 Over $1B worth of <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a> is being unstaked by FTX/Alameda!In the past 3 months, FTX/Alameda has unstaked 530K <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($71K) and transferred it to multiple addresses, averaging 176.7K <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($23.5M) unstaked per month.FTX/Alameda still has 7.06M <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$SOL</a>($945.7M) staked.… <a href="https://t.co/lhfVDsEc99" rel="noopener noreferrer nofollow">pic.twitter.com/lhfVDsEc99</a>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1834498508478693526?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 13, 2024</a>
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By ensuring that the liquidity for the sale is managed in a way that avoids abrupt drops or sharp volatility, market makers are likely to play a significant role in this scenario. The market should be able to handle the selling pressure without experiencing any significant disruptions if this liquidation is handled strategically.&nbsp;
Furthermore, FTX's liquidation procedure will undoubtedly take a methodical and gradual approach, lowering the possibility of suddenly flooding the market with an excessive amount of <a href="https://u.today/solana-sol-price-prediction-for-september-10" rel="noopener noreferrer nofollow">SOL</a> tokens. The meticulous handling of the sale procedure is intended to reduce market shockwaves despite the substantial amount at stake.&nbsp;
Although there may be some short-term volatility in Solana's price, the management of FTX's liquidation may contribute to some degree of stability. The actions being taken provide some comfort that the worst-case scenario can be avoided, but traders and investors should be ready for some bearish volatility on Solana.
As for now, Solana is not showing a positive dynamic on the market. The period of a short-term uptrend will more likely become the time for a liquidation, rather than the descending dynamic we are seeing on SOL right now.

Catastrophic $1 Billion Solana (SOL) Selling Wave Incoming?

U_Today

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