Solana (left) faces a new wave of sales caused by large investor movements. The release of a wallet connected to FTX and Alameda Research release about $ 23 million, increased concerns that it could create a major sales pressure on the market. Can this development draw the price of solana to new bottom levels? As Kriptokoin.com, we convey the details ..
Alameda opened the lock of the left worth $ 23 million
According to On-Chain data, a wallet of Alameda Research Unstake (released) of 177,000 left, distributed these funds to 37 different wallets. Most of these addresses are known as accounts associated with FTX and Alameda ecosystem.
Currently, this 37 wallet has a total of $ 178.82 million left. Investors think that if these assets are offered for sale, there may be a sharp decrease in solana price. Tokens, which are largely unstable, often cause sales pressure in the market. If the demand does not meet the supply, the price may fall rapidly.
In the past, when similar events took place, he saw great price decreases. At the beginning of March, after the Unstake of about $ 1 billion, the price fell harshly. For this reason, investors closely follow whether the majority of the left is transferred to the stock markets.
The technical view is worsening for solana
Solana price is currently at a critical technical level. According to On-Chain indicators, Solana is faced with the “death cross” (Death Cross) for the third time.
Death Cross is a signal of a decrease in the 50 -day moving average by going below the 200 -day moving average. Previously, the price has experienced significant decreases in the periods when this signal emerged:
- During the first death intersection in 2022, the solea price depreciated by more than 90 %. During this period, the collapse of FTX also caused great damage to the market.
- When the second intersection of death in 2022 was seen, the price fell rapidly, but then entered the recovery process.
Currently, the left is trading at $ 126.53 and lost 15 %in the last week. The daily transaction volume decreased by 22.71 %to 4.1 billion dollars. This shows that investors are cautious in the market and that sales pressure can continue.
Next steps for Solana: Will the price continue to fall?
Despite the major sales pressure on the market, some experts think that Solana will remain strong in the long run. Offering faster and more costly transactions compared to Ethereum, SOL is in an important position especially in the decentralized finance (defi) and NFT sectors.
However, investors should be careful in the short term. If the alameda and FTX connected wallets are transferred to a large amount of left stock markets, this may increase the sales pressure and cause the price to decrease further.
