At the FTX Estate auction for SOL in the second tranche, it was sold from $95 to $110 per coin. This is reported today by #TheBlock. Let us remind you that at the first auction the price was generally $64. The second tranche without price details was reported on April 26 by #Bloomberg.
As it became known from TheBlock, the second auction took place on April 25. And KYC procedures and paperwork should be completed today. The auction sold 1.8 million coins blocked from a bankrupt crypto exchange. Let us remind you that this entire volume is blocked; the unlocking will take place over 4 years.
One of the auction winners is the Pantera Capital fund (which was already known), but the other buyers are unknown. In addition to this fund, Galaxy Trading participated in the last auction.
This entire operation does not create pressure on the asset price. But it makes it clear that the asset has good prospects and drawdowns below $110 and then can be bought back for investment.
According to Fig Markets CEO Mike Cagney, the next auction will begin on May 1.#FigMarketsis creating a special tool for bidding on locked SOLs in upcoming auctions.
There is nothing to add yet regarding#SOLfrom the analysis on April 26th. The price continues to decline, has broken through the upward trend since October 2023, and so far the nearest reference point for important supports is the volume and mirror level of $110.82. Where the EMA 200 day TF is also currently taking place.
