Solana (SOL), one of the largest cryptocurrencies in the market, may experience selling pressure due to FTX.
Solana, the seventh largest cryptocurrency, has recently gained popularity with its recent rise. At the highest price in 14 months reached.
According to CoinGecko data, SOL has increased in the last 24 hours. %11th; in the last 30 days gained 78% value.
Bankrupt cryptocurrency exchange FTX recently sent millions of SOLs to exchanges and in addition used for staking purposes $65 million SOL withdrew.
The volatility seen in FTX wallets may create selling pressure on Solana. According to the report shared by asset manager 21Shares, the group that manages FTX’s debts has recently been listed on the stock exchanges. probably for sale He sent SOL worth $35 million.
FTX and Alameda Research were among the largest investors in the Solana ecosystem before it went bankrupt. Solana outperformed many other cryptocurrencies throughout the year despite the collapse of these companies.
According to CoinGecko data $9.8 starting from a price SOL, at the time of writing It is trading at $43.10.