SOLS narxSOLS

The post FTX and Alameda Unstake $431M in Solana – Is a Bigger Crash Coming? appeared first on Coinpedia Fintech News The crypto world is on edge as wallets linked to bankrupt exchange FTX and its trading firm Alameda Research just unstaked over 3 million Solana (SOL). This is the biggest SOL unlock since they started selling off assets in November 2023. With SOL already dropping 20% in the last 24 hours, panic is spreading. Will this massive unlock trigger an even bigger price crash, or can the market hold strong? FTX and Alameda’s Biggest Unstake Since 2023 According to Lookonchain FTX and Alameda just made their biggest Solana (SOL) unlock since late 2023. On March 4, FTX & Alameda unstake 3.03 million SOL worth a jaw-dropping $431 million in a single move. Shortly after the unlock, around 25,000 SOL ($3.3 million) was sent straight to Binance. This continues a trend that started in November 2023 when FTX and Alameda unstaked 2.1 million SOL worth $141 million. With millions of SOLs constantly flowing to exchanges, fears of a bigger sell-off are growing. Some experts believe this could trigger another price crash, or is the market ready to absorb the shock? Can FTX Sell $431M in SOL at Once? While the unstaking of such a massive amount raises concerns, FTX cannot immediately sell all the tokens at once due to strict bankruptcy court rules. A September 2023 ruling limits their liquidation to $50 million per week initially, increasing to $100 million in later weeks. If they seek to sell more than $200 million per week, they must obtain court approval. Despite these restrictions, data from Spot On Chain shows that since November 2023, FTX and Alameda have unstaked 7.83 million SOL, worth nearly $986 million, with most of these tokens sent to Binance and Coinbase for liquidation. What’s Next for Solana? Solana (SOL) is among the biggest losers today, plunging over 20% and wiping out nearly $10 billion from its market cap. Currently, it remains more than 60% below its all-time high of $294. Looking ahead, SOL now faces a crucial test at the $145 resistance level, which previously acted as support. If SOL manages to surge above $145, it may gain momentum and climb toward $165, signaling a potential recovery.

According to Arkham, pump fun: Fee Account transferred about 172,438 SOLs to Kraken again from 1:19 to 1:48 UTC+8 today through a new wallet: 8sp5im...Rac3sM, worth about 32.7 million US dollars.

According to Lookonchain, an address spent 1 sol to purchase 19.79 million Mundi tokens in the early stage, and started selling them for profit four days ago. Currently, 1,428 SOLs (worth $336,900) have been exchanged, and 1.6 million Mundi (worth $99,000) are still held, with a profit of more than $435,000 and a yield of 2,580x.

The recent actions of the Solana whale, which has pulled out of steaking and selling its assets on Binance, has raised concerns about the sustainability of the current SOL price rise In the past, sales of the Solana whale have caused SOL to fall by double digits. We dissect whether history will repeat itself again, or whether retail investors will be able to protect the current price rise. Whale Solana has decided to lock in profits According to Solscan, the Solana whale recently took 100,000 SOL tokens out of steaking and transferred them to cryptocurrency exchange Binance. This comes just three days after the same investor withdrew 100,000 SOL tokens from steaking and transferred the assets to the same exchange. Whale's decision to move his SOL assets to Binance is likely due to a desire to capitalize on the current price increase. The coin has risen in value by 9% over the past seven days. However, this growth could face resistance if Whale continues to sell off. Historically, his sales have had a significant impact on the SOL price, as was the case between June 7 and July 7, when he dumped 1.2 million SOLs worth $178 million, causing the price to drop from $170 to $128. Nevertheless, positive indicators still prevail. The Parabolic Stop and Reverse (SAR) indicator points below the SOL price, indicating a strong uptrend. In addition, the Chaikin Money Flow (CMF) indicator at 0.27 indicates high buyer interest and confirms the bullish bias on Solana. SOL Outlook: Whale vs. the rest Sustained buying pressure from other market participants may offset the impact of the whale's actions. If the bullish momentum continues, Solana could rise to the resistance level of $160.09. Successfully overcoming this critical level will open the way for SOL to reach $188.74. However, if the whale continues to sell its assets for profit, history could repeat itself. In this case, the price may fall by 27%, to the neighborhood of $110.

The recent actions of the Solana whale, which has pulled out of steaking and selling its assets on Binance, has raised concerns about the sustainability of the current SOL price rise In the past, sales of the Solana whale have caused SOL to fall by double digits. We dissect whether history will repeat itself again, or whether retail investors will be able to protect the current price rise. Whale Solana has decided to lock in profits According to Solscan, the Solana whale recently took 100,000 SOL tokens out of steaking and transferred them to cryptocurrency exchange Binance. This comes just three days after the same investor withdrew 100,000 SOL tokens from steaking and transferred the assets to the same exchange. Whale's decision to move his SOL assets to Binance is likely due to a desire to capitalize on the current price increase. The coin has risen in value by 9% over the past seven days. However, this growth could face resistance if Whale continues to sell off. Historically, his sales have had a significant impact on the SOL price, as was the case between June 7 and July 7, when he dumped 1.2 million SOLs worth $178 million, causing the price to drop from $170 to $128. Nevertheless, positive indicators still prevail. The Parabolic Stop and Reverse (SAR) indicator points below the SOL price, indicating a strong uptrend. In addition, the Chaikin Money Flow (CMF) indicator at 0.27 indicates high buyer interest and confirms the bullish bias on Solana. SOL Outlook: Whale vs. the rest Sustained buying pressure from other market participants may offset the impact of the whale's actions. If the bullish momentum continues, Solana could rise to the resistance level of $160.09. Successfully overcoming this critical level will open the way for SOL to reach $188.74. However, if the whale continues to sell its assets for profit, history could repeat itself. In this case, the price may fall by 27%, to the neighborhood of $110.