FTX Sells $1.9 Billion in SOL!!

With the intention of reducing the debt of the now-defunct cryptocurrency exchange, Solana tokens were sold at US$64 each, a significant discount to their market value of US$172. This move was one of the most significant actions in the saga of FTX bankruptcy.

Despite the sell-off, overall sentiment for Solana remains positive, with the token showing resilience. Solana's market capitalization has been increasing and it is currently the seventh largest cryptocurrency by market capitalization.

There has been significant buyer interest in the tokens, with companies such as Galaxy Digital and Pantera Capital reportedly expressing interest.

The sale of these tokens could exert some selling pressure on the market, as indicated by the recent increase in activity from FTX-related wallets moving millions of SOL tokens to exchanges.

However, Solana's price suffered a small drop of 0.2% in the last 24 hours, and the token has shown a remarkable 350% increase this year, defying concerns about its future following the collapse of Sam's FTX crypto exchange. Bankman-Fried and Alameda Research.

The latest social media posts on this topic have been filled with discussions about the potential impact of this sell-off on the price of Solana and the broader market. The general sentiment still remains optimistic.

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