Kryptodata

  • Market Cap: $2,536,844,932,112.35
  • 24h Vol: $95,877,214,841.90
  • BTC Dominance: 51.64%

Domän och hemsidan är till salu. Mejla kontakt@kryptodata.se vid intresse.

Are Solana traders getting ready for potential sell pressure on SOL due to FTX? Is this anticipation premature?

Are Solana traders getting ready for potential sell pressure on SOL due to FTX? Is this anticipation premature?

Crypto traders are discussing the potential impact of FTX selling its $1.06 billion Solana stake on the price of SOL. However, some traders believe that the selling pressure is overblown, as the majority of FTX’s SOL stake is locked until 2025-2028. Additionally, the Solana Foundation has revealed that a significant portion of FTX’s SOL tokens are locked until 2027. The selling pressure will be distributed over time, and the current spot volume indicates that FTX’s selling pressure represents a small percentage. There is also the possibility of a short squeeze, as funding rates for perpetual swap contracts on SOL have plunged to negative levels, indicating a crowding of short orders. However, negative funding rates have resulted in flat price returns in the past. Technically, SOL is facing resistance from a descending trendline and is trading below its 50- and 200-day moving averages. Overall, it is important for readers to conduct their own research and make informed decisions when it comes to investments in cryptocurrencies.

Summary:

– Crypto traders are discussing the potential impact of FTX selling its $1.06 billion Solana stake on the price of SOL.

– Some traders believe that the selling pressure is overblown, as the majority of FTX’s SOL stake is locked until 2025-2028.

– The Solana Foundation has revealed that a significant portion of FTX’s SOL tokens are locked until 2027.

– The selling pressure will be distributed over time, and the current spot volume indicates that FTX’s selling pressure represents a small percentage.

– There is also the possibility of a short squeeze, as funding rates for perpetual swap contracts on SOL have plunged to negative levels.

– However, negative funding rates have resulted in flat price returns in the past.

– Technically, SOL is facing resistance from a descending trendline and is trading below its 50- and 200-day moving averages.

– It is important for readers to conduct their own research and make informed decisions when it comes to investments in cryptocurrencies.

Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.