{"id":354672,"date":"2023-10-30T09:00:40","date_gmt":"2023-10-30T03:30:40","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=354672"},"modified":"2023-10-29T17:52:26","modified_gmt":"2023-10-29T12:22:26","slug":"ftx-sells-solana-should-investors-be-worried","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/ftx-sells-solana-should-investors-be-worried\/","title":{"rendered":"FTX sells Solana &#8211; should investors be worried?"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">SOL was down marginally over the last 24 hours.\u00a0<\/span><\/em><\/li>\n<li style=\"font-weight: 400;\"><em><span style=\"font-weight: 400;\">Solana\u2019s volume also dropped, while its RSI and MFI entered overbought zones.\u00a0<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Solana [SOL]<\/span><span style=\"font-weight: 400;\"> has managed to maintain its position on the top 10 list for quite some time. The token also capitalized on the recent bull rally, as its price rallied in double digits over the last week.\u00a0<\/span><\/p>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Is your portfolio green? Check out the<\/span> <a href=\"http:\/\/ambcrypto.com\/calculator\/solana-profit-calculator\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">SOL Profit Calculator<\/span><\/a><\/p>\n<hr \/>\n<p><span style=\"font-weight: 400;\">However, FTX, the infamous crypto exchange that caused massive havoc a few months ago, has transferred a substantial amount of SOL in the recent past.<\/span><\/p>\n<h4><b>FTX is selling Solana<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Solana has been forming very well in the recent past, thanks to the bullish market condition. Thanks to that, the token has performed really well and has managed to lift its price by double digits in the last seven days.<\/span><\/p>\n<p><span style=\"font-weight: 400;\"> According to <\/span><a href=\"https:\/\/coinmarketcap.com\/currencies\/solana\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">CoinMarketCap<\/span><\/a><span style=\"font-weight: 400;\">, SOL\u2019s value surged by more than 12% over the last seven days. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">At the time of writing, the token was trading at $32.20 with a market capitalization of over $13.49 billion, making it the seventh-largest crypto. Even as SOL\u2019s weekly chat was green, the token\u2019s recent developments told a different story. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As per CoinMarketCap, SOL was down by over 0.2% over the last 24 hours. A possible reason behind this current price drop could be due to an act from FTX. As per the latest data, FTX transferred more than 300,000 SOL tokens, which were worth over $10 million.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">UPDATE:<\/p>\n<p>FTX\/Alameda transferred $19.4M assets again today, including:<br \/>309,185 <a href=\"https:\/\/twitter.com\/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$SOL<\/a>($10M)<br \/>2.03M <a href=\"https:\/\/twitter.com\/search?q=%24BAND&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BAND<\/a>($3.15M)<br \/>3.82M <a href=\"https:\/\/twitter.com\/search?q=%24PERP&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$PERP<\/a>($2.3M)<br \/>46.67M <a href=\"https:\/\/twitter.com\/search?q=%24TRU&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$TRU<\/a>($1.78M)<br \/>4.39M <a href=\"https:\/\/twitter.com\/search?q=%24BICO&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BICO<\/a>($1M)<br \/>915,048 <a href=\"https:\/\/twitter.com\/search?q=%24KNC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$KNC<\/a>($686K)<br \/>5.47M <a href=\"https:\/\/twitter.com\/search?q=%24CVC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$CVC<\/a>($479K)<br \/>7,275 <a href=\"https:\/\/twitter.com\/search?q=%24BOND&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BOND<\/a>($30K)<a href=\"https:\/\/t.co\/Pn82059rin\">https:\/\/t.co\/Pn82059rin<\/a> <a href=\"https:\/\/t.co\/yukVPUEJt4\">pic.twitter.com\/yukVPUEJt4<\/a><\/p>\n<p>&mdash; Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1718197994301129165?ref_src=twsrc%5Etfw\">October 28, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400;\">Though FTX transferred SOL, a look at Solana\u2019s liquidity heatmap revealed that investors were not actually selling the token. This was evident from <\/span><a href=\"http:\/\/ambcrypto.com\/solanas-2030-valuation-could-be-a-sight-to-behold-heres-why\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">SOL<\/span><\/a><span style=\"font-weight: 400;\">\u2019s liquidation heatmap, provided by Hyblock Capital. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The last major liquidation happened on 27 October, when SOL\u2019s price went over the $33 mark.<\/span><\/p>\n<figure id=\"attachment_354673\" aria-describedby=\"caption-attachment-354673\" style=\"width: 1482px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/newplot-1-1.png\"><img decoding=\"async\" class=\"wp-image-354673 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/newplot-1-1.png\" alt=\"\" width=\"1482\" height=\"749\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/newplot-1-1.png 1482w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/newplot-1-1-300x152.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/newplot-1-1-1024x518.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/newplot-1-1-768x388.png 768w\" sizes=\"(max-width: 1482px) 100vw, 1482px\" \/><\/a><figcaption id=\"caption-attachment-354673\" class=\"wp-caption-text\">Source: Hyblock Capital<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">While Solana\u2019s liquidation level looked stable, the same can\u2019t be said for its performance on other fronts.<\/span> <a href=\"http:\/\/ambcrypto.com\/is-lidos-tvl-on-the-road-to-recovery-after-solana-sunset\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">SOL<\/span><\/a><span style=\"font-weight: 400;\">\u2019s trading volume dropped substantially over the last week, meaning that investors were reluctant to trade the token. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Because of the recent price downtrend, Solana\u2019s Price Volatility 1w also plummeted over the past few weeks. Nonetheless, SOL remained in demand in the futures market, which was evident from its green Binance Funding Rate.<\/span><\/p>\n<figure id=\"attachment_354674\" aria-describedby=\"caption-attachment-354674\" style=\"width: 3840px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-16.59.22-29-Oct-2023.png\"><img decoding=\"async\" class=\"wp-image-354674 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-16.59.22-29-Oct-2023.png\" alt=\"\" width=\"3840\" height=\"1300\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-16.59.22-29-Oct-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-16.59.22-29-Oct-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-16.59.22-29-Oct-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-16.59.22-29-Oct-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-16.59.22-29-Oct-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/Solana-SOL-16.59.22-29-Oct-2023-2048x693.png 2048w\" sizes=\"(max-width: 3840px) 100vw, 3840px\" \/><\/a><figcaption id=\"caption-attachment-354674\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Read<\/span><a href=\"http:\/\/ambcrypto.com\/predictions\/solana-price-prediction\" target=\"_blank\" rel=\"noopener\"> <span style=\"font-weight: 400;\">Solana\u2019s [SOL] Price Prediction<\/span><\/a><span style=\"font-weight: 400;\"> 2023-24<\/span><\/p>\n<hr \/>\n<h4><b>Investors must practice caution<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Like most of the aforementioned metrics, market indicators also remained bearish. For example,<\/span> <a href=\"http:\/\/ambcrypto.com\/solana-trades-at-pre-ftx-levels-once-again\/\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">SOL<\/span><\/a><span style=\"font-weight: 400;\">\u2019s Relative Strength Index (RSI) was in overbought zones. This can increase selling pressure and, in turn, drop the token\u2019s price further. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Nonetheless, its Chaikin Money Flow (CMF) remained bullish as it registered an uptick in the recent past.<\/span><span style=\"font-weight: 400;\">\u00a0<\/span><\/p>\n<figure id=\"attachment_354675\" aria-describedby=\"caption-attachment-354675\" style=\"width: 1815px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-29_17-08-01.png\"><img decoding=\"async\" class=\"wp-image-354675 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-29_17-08-01.png\" alt=\"\" width=\"1815\" height=\"807\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-29_17-08-01.png 1815w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-29_17-08-01-300x133.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-29_17-08-01-1024x455.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-29_17-08-01-768x341.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/10\/SOLUSDT_2023-10-29_17-08-01-1536x683.png 1536w\" sizes=\"(max-width: 1815px) 100vw, 1815px\" \/><\/a><figcaption id=\"caption-attachment-354675\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>FTX sold SOL worth more than $10 million in the recent past, and market indicators look bearish on the token as well.<\/p>\n","protected":false},"author":75,"featured_media":354676,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[],"class_list":["post-354672","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>FTX sells Solana - should investors be worried? 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