Solana Under Pressure as FTX Holds Over $1 Billion in SOL Amid Liquidations This post originally appeared on Coinpedia Fintech News
Solana is in trouble! FTX still holds over $1 billion worth of Solana (SOL) tokens as part of its ongoing bankruptcy resolution. The exchange holds 7.06 million SOL, worth $945.7 million, and is holding but not selling, putting pressure on Solana’s market value. Despite FTX and Alameda Research recently selling 530,000 SOL, there is still a significant holding. The crypto market is facing increased scrutiny and declining Solana DEX trading volume, and the price is nearing a critical technical level. As FTX continues to sell tokens, market watchers are bracing for the potential impact on the SOL price.
The article Solana Under Pressure as FTX Holds Over $1 Billion in SOL in Liquidations first appeared on Crypto Adventure