๐ The drop in SOL is picking up speed as FTX kicks off another auction for locked Solanas! ๐๐จ In the third sale process of locked SOL assets, FTX is putting up approximately 41 million SOL for grabs, with bidding set to close on May 9. ๐๐ฐ These assets, locked for a period of 4 years, will be unleashed into the wild with staking rewards distributed according to a set schedule. โณ๐ธ
FTX's journey to repay creditors has been eventful, with previous sales netting them a staggering $1.7 billion in revenue! ๐ฐ๐ผ From Galaxy Trading to Pantera, big names have lined up to snag SOL assets at auction, with bids ranging from $85 to $110 per cryptocurrency. ๐ธ๐ผ
As the bidding period comes to a close, SOL's price seems to hover around last month's auction levels, maintaining the suspense for potential buyers. ๐ค๐ผ Meanwhile, FTX's announcement of refunds for creditors brings a glimmer of hope, with 98% set to be paid at a rate of 118% after court approval. ๐๐ค
Hold onto your seats, crypto enthusiasts, as the saga of FTX's asset sales continues to unfold! ๐๐ #FTXAuction #CryptoDrama #SOLAdventure ๐ผ๐
Follow | Like โค๏ธ | Quote ๐ | Comment๐