I love the smell of napalm in the morning!
Solana Compass data shows that the Solana network Epoch 370 will unlock 49,973,143 SOL.
At the current price of $18.82, the unlocked Sol is worth more than $900 million, which will happen in 20 hoursAfter what happened to FTX and FTT the next victim is Solana and its ready for lower levels
targets 17.5 , 17 , 16 and 15. 16$ is very important support and if it lose that area then be ready for 14 and 13$
Solana Compass data shows that the Solana network Epoch 370 will unlock 49,973,143 SOL.
At the current price of $18.82, the unlocked Sol is worth more than $900 million, which will happen in 20 hoursAfter what happened to FTX and FTT the next victim is Solana and its ready for lower levels
targets 17.5 , 17 , 16 and 15. 16$ is very important support and if it lose that area then be ready for 14 and 13$
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14 is coming
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dead cat bounce
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22 is coming
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Solana Foundation: We disagrees with the characterization of SOL as a security.
We welcome the continued engagement of policymakers as constructive partners on regulation to achieve legal clarity on these issues for the thousands of entrepreneurs across the U.S. building in the digital assets space!
We welcome the continued engagement of policymakers as constructive partners on regulation to achieve legal clarity on these issues for the thousands of entrepreneurs across the U.S. building in the digital assets space!
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Sam Bankman-Fried's FTX exchange, now navigating bankruptcy, has officially filed a motion to convert its significant cryptocurrency holdings into fiat to settle its debts. A pivotal court hearing regarding this motion is scheduled for September 13th.
As of April, FTX's crypto assets were valued at around $3.4 billion. If given the green light, they might adopt a phased approach to their asset liquidation, with a weekly target of up to $200 million.
However, the road isn't entirely smooth for FTX. The Department of Justice’s US Trustee office oversees bankruptcy processes and opposes FTX's motion, citing a potential rule violation. We will see what the ruling is on Wednesday.
FTX's creditors, with claims amounting to over $3 billion in diverse cryptocurrencies, are keenly awaiting the outcome of this hearing. Their recovery prospects hinge on this result.
FTX’s Possible Liquidations:
SOL
: Approx. $650 million
FTT
: Approx. $500 million
BTC
: Approx. $268 million
ETH
: Approx. $90 million
APT
: Approx. $67 million
DOGE
: Approx. $42 million
MATIC
: Approx. $39 million
Note On FTX's
SOL
Holdings:
It's essential to highlight that while FTX possesses a considerable percentage of the
SOL
supply, a significant portion remains locked.
This locked amount is set to be fully vested by 2028. Consequently, though the SOL price might experience short-term fluctuations, the impact might not be as pronounced as many anticipate.
As of April, FTX's crypto assets were valued at around $3.4 billion. If given the green light, they might adopt a phased approach to their asset liquidation, with a weekly target of up to $200 million.
However, the road isn't entirely smooth for FTX. The Department of Justice’s US Trustee office oversees bankruptcy processes and opposes FTX's motion, citing a potential rule violation. We will see what the ruling is on Wednesday.
FTX's creditors, with claims amounting to over $3 billion in diverse cryptocurrencies, are keenly awaiting the outcome of this hearing. Their recovery prospects hinge on this result.
FTX’s Possible Liquidations:
SOL
: Approx. $650 million
FTT
: Approx. $500 million
BTC
: Approx. $268 million
ETH
: Approx. $90 million
APT
: Approx. $67 million
DOGE
: Approx. $42 million
MATIC
: Approx. $39 million Note On FTX's
SOL
Holdings: It's essential to highlight that while FTX possesses a considerable percentage of the
SOL
supply, a significant portion remains locked. This locked amount is set to be fully vested by 2028. Consequently, though the SOL price might experience short-term fluctuations, the impact might not be as pronounced as many anticipate.
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