FTX/Alameda’s $1B SOL unstaking signals potential market volatility for Solana.
SOL’s $134 support, $135.05 resistance key in shaping near-term price movement.
Neutral RSI and MACD below signal line suggest potential short-term price decline.
FTX and Alameda Research have unstaked a massive amount of Solana ($SOL) — over $1 billion worth — in the past three months. According to Lookonchain data, this significant unstaking activity involves 530,000 $SOL valued at $71 million, spread across multiple addresses.
On average, these entities have unstaked roughly 176,700 $SOL per month, equivalent to $23.5 million. FTX/Alameda still holds a sizable 7.06 million $SOL, valued at approximately $945.7 million.
Over $1B worth of $SOL is being unstaked by FTX/Alameda!
In the past 3 months, FTX/Alameda has unstaked 530K $SOL($71K) and transferred it to multiple addresses, averaging 176.7K $SOL($23.5M) unstaked per month.
FTX/Alameda still has 7.06M $SOL($945.7M) staked.… pic.twitter.com/lhfVDsEc99
— Lookonchain (@lookonchain) September 13, 2024
This substantial unstaking could influence Solana’s current market dynamics. At press time, Solana’s price sits at $134…
The post FTX and Alameda Unstake Over $1 Billion in Solana, Impacting SOL Price appeared first on Coin Edition.
