FTX, the infamous crypto exchange, has transferred more than 300,000 SOL tokens worth over $10 million, causing bearish market indicators for Solana.
FTX sold SOL worth more than $10 million in the recent past, and market indicators look bearish on the token as well.has managed to maintain its position on the top 10 list for quite some time. The token also capitalized on the recent bull rally, as its price rallied in double digits over the last week.However, FTX , the infamous crypto exchange that caused massive havoc a few months ago, has transferred a substantial amount of SOL in the recent past.
As per CoinMarketCap, SOL was down by over 0.2% over the last 24 hours. A possible reason behind this current price drop could be due to an act from FTX. As per the latest data, FTX transferred more than 300,000 SOL tokens, which were worth over $10 million.Though FTX transferred SOL, a look at Solana’s liquidity heatmap revealed that investors were not actually selling the token.
FTX SOL Solana Crypto Exchange Bearish Market Price Drop
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
TC Energy explores stake sales of assets worth US$10 billionTC Energy is considering selling assets worth US$10 billion as part of its strategic review to focus on core businesses and reduce debt.
Read more »
Solana's Price Could Rally Above $3000, Says Asset Management FirmA recent report suggests that Solana's price could reach $3000, but it faces challenges due to its lack of first mover advantage and major selling point.
Read more »
Solana Outages Diminish as Prices Reach New HighsOutages on the Solana network have decreased, leading to a surge in prices. However, the coins were unable to sustain the rally. Meanwhile, Solana Labs co-founder suggests using Ethereum as a layer-2 for the Solana blockchain.
Read more »
Solana's Strides in Smart Contract Platforms Continue to Impress, Says VanEckAccording to VanEck, Solana's dominance in the Smart Contract Platforms (SCPs) sector is unmatched. The asset management firm predicts a surge in adoption and believes Solana could be the first blockchain to host a killer application with over 100 million users.
Read more »
LINK Maintains Bullish Uptrend Despite PullbackDespite a pullback at the $11.5 resistance level, LINK has maintained its strong bullish uptrend. The altcoin has seen a significant rise over the past week, breaking past a year-long resistance at $10. On-chart indicators suggest a continuation of the uptrend.
Read more »
Associate Professor Aaron Phillips Receives Hopewell M-I-N-D PrizeAssociate professor Aaron Phillips has been awarded the second annual Hopewell M-I-N-D Prize for his project on reducing damage and supporting recovery after spinal cord injury. The prize, created in 2021 with a $10 million commitment from philanthropist Sanders Lee, recognizes innovation in neuroscience research.
Read more »