CandleFocus FTX and Alameda Unstake $24M in Solana : Is SOL Price at Risk?
2024-09-12
Author: Content Editor
The defunct cryptocurrency exchange FTX is expected to expedite its sales of Solana (SOL) in order to repay distressed investors. FTX and its sister firm, Alameda Research, are set to offload their Solana assets through an over-the-counter (OTC) desk to avoid negatively impacting the market. Pantera Capital, a blockchain investment firm, has expressed interest in buying discounted Solana from FTX. Recently, FTX and Alameda Research-associated addresses unstaked a significant amount of SOL units. Despite this, the demand for Solana remains strong among both retail and institutional investors, and its price has established a solid support level above $122. Additionally, the approval of spot Solana ETFs in Brazil indicates growing institutional adoption of the cryptocurrency.
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