FTX Unstaked 186,326 SOL Tokens Worth $21.5 Million
A wallet linked to FTX/Alameda Staking has unstaked 186,326 SOL tokens, valued at $21.5 million, on April 11. Historically, such actions have led to selloffs as FTX aims to repay creditors. Previously, over 185,000 SOL were unstaked last month.
Key points:
- FTX and its hedge fund have unstaked more than 3 million SOL tokens.
- No significant selloff occurred this time; SOL rose by 0.6% to $116.5.
- Solana's market cap reached $60.1 billion, surpassing USDC.
- Daily trading volume of SOL decreased by 38% to $4 billion.
- Price volatility is expected over the weekend due to market uncertainty.
Market factors include rising tensions from a U.S.-China trade war, which eased after President Trump announced a 90-day pause on tariffs. This could revive bullish sentiment in markets.
Additionally, optimism surrounds Solana’s upcoming Firedancer upgrade aimed at enhancing scalability, alongside potential approval for Solana-based ETFs in the U.S.