
Solana (SOL) Faces Market Uncertainty Amidst FTX Unstaking
Solana (SOL) experiences price volatility as the FTX exchange unstakes large volumes, potentially leading to increased selling pressure and a forecasted 12% drop.
Solana (SOL) experiences price volatility as the FTX exchange unstakes large volumes, potentially leading to increased selling pressure and a forecasted 12% drop.
For the first time in Solana’s history, six SOL-based platforms have surpassed $1 billion in user deposits, with the top six protocols collectively holding nearly $9 billion in total value locked (TVL).
Solana (SOL) has seen significant growth and technical improvements, with potential for further gains and the possibility of Solana-based ETFs on the horizon.
Solana has witnessed a surge in new addresses, with 1 million new wallets created last week, according to data from IntoTheBlock. This influx of new users could potentially fuel a comeback for SOL, which is currently consolidating around the $160 mark.
Solana has experienced a surge in NFT trading volumes, outpacing Bitcoin and Ethereum, while decentralized exchange (DEX) volumes on the network continue to decline, potentially affecting the market performance of SOL, the native cryptocurrency.
Solana (SOL) jumped over 7% to become the 4th biggest cryptocurrency by market cap as it climbed above $140 amid Bitcoin’s latest rally toward a new all-time high price.