FTX has unstaked $28M SOL, which will likely be sent to exchanges. Despite this possible sale, Solana is showing signs of a rally to $172.
Solana traded at $154 at press time after a 1.47% gain in 24 hours. Spot trading volumes also spiked by around 45% during this period, according toThe positive narrative comes despite concerns around a possible sale of millions of dollars worth of Solana by defunct crypto firms FTX and Alameda Research.showed that on the 15th of October, a staking address associated with FTX and Alameda unlocked 178,631 SOL, valued at around $28M at the current Solana price.
This crossover suggests that the market sentiment is shifting in favor of buyers, which could lead to further upward momentum. A drop to the support level of $149 could create another buying opportunity for SOL if the broader market continues to gain and sentiment around SOL remains positive.
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