Is Solana’s Price Plunge Due to Fears of FTX’s $1.5 Billion Asset Sell-off? 👀
#Solana 's recent 6% price decline is tied to fears of a substantial asset sell-off by #bankrupt FTX, which holds $1.5 billion in assets on the Solana network, including $128 million in SOL tokens.
Concerns over a flood of assets led to mixed sentiments, with users on social media expressing both worry and optimism.
However, #FTX 's bankruptcy plan, awaiting court approval on September 13, includes safeguards, allowing only up to $100 million in token sales per week, with potential increases for individual tokens. Solana's current price sits at $18.38, down 11% for the week.
