SOL price is in danger, read it if you have SOLANA 👇

Solana / Tether USWhiteBIT

Description

⋅ Nov 15, 2022 9:38 AM

Today we will consider what prospects there may be for the SOL price
Yesterday, 11/14/22, Solana's website published an extensive update on how much Solana Foundation is tied to FTX/Alameda.
We will compress this information into a few paragraphs)

Solana Foundation owns 1mn cash or equivalent in FTX accounts, noting that this is less than 1% of their capital.
That is, we assume that the liquid capital of Solana Fondathion is +/- 100mn.
- 3.24 million FTX Trading LTD ordinary shares - the value is close to zero.
- 3.43 million FTT tokens - value at the time of writing +/- 7mn.
- 134.54 million SRM tokens from DEX Project Serum, which Samuel Banckman-Fried created on the basis of Solana in 2020. - value +/- 37mn

FTX and its cryptocurrency trading subsidiary Alameda Research (also co-founded by Bankman-Fried) have purchased more than 50.5 million SOL, which is currently valued at approximately $750 million. However, a significant portion of these SOLs is locked and have a monthly unlocking schedule that is scheduled until 2028.
Solana Labs, the company that represents the founders and major contributors to the Solana network, has also sold over 7.56 million SOL (worth about $112 million) to Alameda Research. All these tokens will be unlocked for trading in 2025.
Earlier, the CEO stated that Solana Labs was not affected by the FTX crash and has no assets on the exchange.

But the market is not fooled, and Japanese candlesticks show the mood of market participants rather than indicators. The price of SOLUSDT fell by -57% over the past week, while the price of BTC or ETH fell by -20%

Now the SOLUSD price has come to a very critical point.
If Solana finds additional capital, it will probably try to push the SOL price at least to $40-50. That is, the blue scenario can be considered very positive and unlikely, analyzing the current realities.

It is described above how closely SOLANA is related to FTX and its derivatives, so the price of SOL will react very strongly to any news related to FTX.
Below $13 there is no liquidity for SOL and a drop to $2-4 is likely - this is a very pessimistic forecast, but in the current realities it is quite likely.

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Comments

Lieuwe99

⋅ Nov 15, 2022 7:20 PM

Your TA is not so good, if we look at the lower channel/trend line we see that there is only 1 confirmation bounce. So it's not a valid channel. Also, the expectation of the price to the upside doesn't make sense. Do you think we pump so easily through the strong 23 resistance without any rejection haha, going down in this market sentiment is common sense. Your chart is also not so clear with hundreds of lines on it, it looks messy

gocer79

⋅ Nov 15, 2022 10:40 AM

Thanks i hope will be go up

SwallowPremium

⋅ Nov 16, 2022 11:45 PM

Nice idea, it makes a lot of sense to me! Thanks!

JoeChampion

⋅ Nov 16, 2022 4:14 PM

Excellent view mate, keep us updated!

Mahtab_Tradia

⋅ Nov 16, 2022 1:11 PM

Interesting outlook! I have the same view. Thanks for sharing

ProjectSyndicate

⋅ Nov 16, 2022 9:58 AM

seems logical, you got both options covered

ProSignalsFx

⋅ Nov 16, 2022 8:22 AM

Noted bro, lets see how it goes!

likelyjockey

⋅ Nov 16, 2022 7:33 AM

Whats your idea for Axs usdt?

vf_investment

⋅ Nov 16, 2022 1:23 AM

This project is done most likely. thanks for the chart