FTX and Alameda Research have begun to actively utilize funds from staking Solana (SOL) to repay debts to their customers, attracting the attention of investors.
Asset Liquidation of SOL
FTX and Alameda Research recently liquidated $45 million worth of Solana assets. This measure is aimed at repaying debts to customers. According to data from the analytical platform EmberCN, shortly after this liquidation, approximately 192,000 SOL worth $43.56 million was unstaked. It is noteworthy that most addresses receiving these assets are expected to transfer them for liquidation on exchanges like Coinbase or Binance.
Impact on Solana Price
The potential impact of the current liquidation on the price of SOL is being discussed. At the moment, the asset is demonstrating resilience, showing gains in four out of five major trading sessions. The current price of SOL is $240, having increased by 16% over the last seven days. It should also be noted that FTX and Alameda Research have already redeemed 8.98 million SOL worth $1.202 billion since November 2023.
Analytical Predictions
Analyst Ali Martinez predicted that the price of SOL could reach $1,300 in the current cycle, based on the formation of a cup and handle pattern on the chart. Another analyst known as Crypto Curb claims that SOL might be able to reach $2,000, but would first need to break through the $1,000 level. There is also notable news that SOL Strategies has commenced trading shares on Nasdaq, which may also influence the asset's price.
The liquidation of SOL assets by FTX and Alameda Research continues to impact the market, and investors are closely monitoring price changes, while analysts are making various predictions.
