The post FTX wallet unlocks 177,693 Solana (SOL) tokens appeared on BitcoinEthereumNews.com.

A wallet connected to FTX has unlocked 177,693 Solana (SOL) tokens, raising concerns about a possible sell off. However, the stability of Solana’s price and the growth of its ecosystem indicate a more complex situation. Let’s see all the details below.  FTX wallet unlocks 177,693 Solana (SOL) tokens: signs of a bull or bear market? The recent move by a wallet linked to FTX, which unlocked a considerable amount of Solana (SOL) tokens, has attracted the attention of investors and sparked debates on the possible impact of this action on the market.  The wallet has indeed unlocked 177,693 SOL tokens, with an estimated value of approximately 23.75 million dollars, raising concerns about a potential imminent sell off.  However, despite these speculations, Solana has maintained a surprising price stability, reinforcing the idea that the Solana ecosystem is in a phase of expansion and maturity. The action of unstaking by a wallet linked to FTX and Alameda Research was reported on September 12 by PeckShield, a blockchain security company. The news immediately attracted the attention of the market, as large cryptocurrency transactions can often signal significant market changes.  The unlocked amount of 177,693 SOL, while representing a significant figure, is only a fraction of the total holdings of the portfolio linked to FTX. This has given rise to hypotheses about a potential selloff, a common concern in situations of unstaking large quantities of tokens.  However, it is important to consider that unstaking does not necessarily imply an immediate sale.  The token holders can indeed decide to reuse or redistribute their holdings without selling, which could mitigate the negative impact on the price. Market reaction and price stability of Solana Despite the initial anxiety generated by the news, the market reacted relatively calmly.  As of September 13, 2024, the price of Solana has…

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Filed under: News - @ September 13, 2024 5:23 pm