Solana (left) investors are preparing to fluctuate. The 11.2 million left tokens in the hands of the bankrupt FTX exchange will be released today and the total value of these assets reaches $ 1.57 billion. This lock expansion is part of the ongoing legal process of FTX, which is recorded as one of the most expensive Chapter 11 bankruptcy processes in the US history.
How will FTX’s solana sales affect the market?
The opened 11.2 million left corresponds to 2.2 %of the current circulatory supply. In addition, FTX will have small -scale lock expansions in the next two months. 12,700 left on April 1, 73,700 left on May 1 will be released.
These tokens were distributed to large investors with discounted sales issued by FTX. The largest buyer Galaxy Digital purchased 25.5 million left token at $ 64. Pantera Capital and other investors acquired the tokens in the range of $ 95-102.
Possible effects on sales pressure and solana price
This large lock expansion can increase sales pressure in the market and have a downward effect on the price in the short term. In recent weeks, the overall decrease in the crypto market has fell to $ 136. However, the price is currently around $ 140. However, some major investors, such as Galaxy Digital and Defian Capital, said they did not intend to sell their left.
Arthur Cheong, the founder of Defian Capital, said that he bought the left with $ 64 with OTC (over the counter) and believes that the price could rise seriously in the next three months. How will FTX’s solana sales affect the market? Will the giant lock expansion be an opportunity or risk for investors?
Is it an opportunity to buy?
Some analysts think that the impact of this large left lock expansion on the price may be limited. Because most Token has already been sold to large investors in a discount and may not suddenly turn into liquidity in the market. However, the general sensitivity in the market and the interest in Solana ecosystem will play a critical role in determining price movements. If investors see and buy this supply increase as an opportunity, the left price may be less affected than expected and a upward movement may begin.
