Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
Crypto Flexs
Home»TRADING NEWS»FTX Prepares to Sell More Solana (SOL): Price Impact
TRADING NEWS

FTX Prepares to Sell More Solana (SOL): Price Impact

By Crypto FlexsApril 22, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
FTX Prepares to Sell More Solana (SOL): Price Impact
Share
Facebook Twitter LinkedIn Pinterest Email

FTX’s bankruptcy estate is preparing a pivotal move by auctioning off a significant amount of Solana (SOL) tokens. This strategy forms part of the FTX liquidation process that began following the November 2022 collapse.

This auction is a strategic shift from traditional fixed-price sales, signaling a potential shift in market dynamics.

Previously, 25-30 million SOL tokens were sold, generating nearly $1.9 billion in revenue. The price was $64 each, a 60% discount from the market price at the time. But there was a trade-off in the discount. This meant the buyer had to lock up the SOL for four years.

“You’re basically exchanging time for a discount,” says Caladan’s Eva Weng. You will have to freeze your capital for four years, but you will pay much less for the tokens,” she said.

The decision to opt for an auction this time could impact Solana’s market price by encouraging competitive bidding. Mike Cagney, CEO of Figure Markets Confirmed It’s up for auction, but final details haven’t been released yet.

Read more: How to Buy Solana (SOL) and Everything You Need to Know

Cagney’s Figure Markets is developing a special purpose vehicle (SPV) to facilitate auction participation from the cryptocurrency community. This mechanism is designed to attract both non-U.S. investors and U.S. accredited investors. This allows you to participate in community consensus to determine bid prices and manage subsequent investments.

The auction format can increase bidding enthusiasm with the potential to influence Solana’s price trends.

Solana’s price trajectory is currently trending upward. The Solana price reached a high of $210 on March 18 before falling significantly by more than 44% to a low of around $116 on April 13. Despite this, Solana prices have bounced back to nearly 30% above their lows.

This recovery is very important as Solana is testing a key resistance level near $156. This level marks an important Fibonacci retracement point.

Solana (SOL) price performance. Source: TradingView

If Solana maintains a position above $156, it could rise 22% to around $185, reaching the 0.786 Fibonacci level. Conversely, if this barrier is not overcome, the price may find support at $145.56.

Read More: Solana (SOL) Price Prediction for 2024/2025/2030

“At $148 Solana is massively undervalued.” Dan Borovik of Rollbit said.

disclaimer

All information contained on our website is published in good faith and for general information purposes only. Any action you take upon the information on our website is strictly at your own risk.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Licensed platform Cryptogames shows how promotions increase player winning potential.

May 31, 2025

Dow inch high, S & P 500 caps in May since 1990

May 30, 2025

INFINITE NODE posts a more detailed cryptopunks NFT book

May 30, 2025
Add A Comment

Comments are closed.

Recent Posts

Zero Knowledge Technology: In Linea’s study, the journey to the main net

May 31, 2025

Blockchain.com Nigeria in the court ruling

May 31, 2025

Sharplink’s $ 1B Ether Leeum Bet: How to Change ETH’s Game

May 31, 2025

The AI ​​drive model seasplat improves coral reefs.

May 31, 2025

It is a Gold Fallor Safety Dynasty Status, but the path of Bitcoin can be brighter: analysts

May 31, 2025

Bitcoin prices can be $ 2.5 million in 2025.

May 31, 2025

SEC CRYPTO Stacking Guidance Victory on Industrial Regulations, approval of Staked ETF

May 31, 2025

Gala Game introduces a discounted town star badge mystery pack.

May 31, 2025

Bitcoin prices extend losses. Is it a bigger disadvantage on the horizon?

May 31, 2025

Director Trezor: What is the best hardware wallet in 2025?

May 31, 2025

The BNB chain reports the growth of the Defi and AI sectors in the new initiative.

May 31, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Zero Knowledge Technology: In Linea’s study, the journey to the main net

May 31, 2025

Blockchain.com Nigeria in the court ruling

May 31, 2025

Sharplink’s $ 1B Ether Leeum Bet: How to Change ETH’s Game

May 31, 2025
Most Popular

Analysts predict up to 40% rise this week

July 2, 2024

Bittensor (TAO) pumps 80%in April as the ecosystem expands, but will the meeting end?

April 22, 2025

Bitcoin Trader (BTC) sees its price fall to $60K as Crypto Bulls see $650M in liquidations.

March 17, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.