Sol noses below $ 160 as FTX Solana unlocking the ground

Salt fell by more than 7% to level below $ 160, because investors grow tired upcoming FTX 11.2 million sales sales.

24. February, Solana (Salt) He took the nosed, reduces more than 7% to $ 158.46 the lowest ever ever had this year. The last time Sol was trapped below $ 160 was 20. October 20. October, when she closed $ 159.64. At the time of pressure, Solana failed to climb back for $ 160 and remained about $ 159.

Toward data From Cripto.nevs, Solana fell by 6.9% in the last 24 hours. The token currently trades at $ 159.29. The last week of Solana decreased by almost 13%, and even more in the past month. Solana fell for more than 35% in the last 30 days.

The Solana Market Cap is currently 78 billion dollars, with a fully diluted estimate of $ 95 billion. Just a few days ago, 24. February, Solana managed a short jump from previous falls, outweighs a $ 180 brand.

Toward data Since the LLAM, Volana Solana Dex suffered a similar loss. Blackchain DEX volume decreased by 36.7% in the past week. At the time of writing, Sunday Dex Solana is $ 16.6 billion, while her daily Dex Volume is sitting to $ 1.5 billion.

From 24. February, Solana lost almost 10 billion dollars in the market, as well as the same amount in a fully diluted extent.

Why is Sol Pad?

With FTX, they unlock 11.2 million salt, or equal to 1.77 billion dollars, which appears 1. Marta, many investors have been tired that the event could affect the liquidity and stability of salt prices. The inflow in the tokens could lead to pressure on Solana’s price, potentially activation of a significant fall.

However, investors could use the opportunity presented to the price of the price to accumulate more Solana. If the demand retains, the price of Solan can soon see the jump.

Toward AmberdataLast week, Sol Blok Trade at Derivative Criptocurrency Deribit consisted of almost 25% of all Solana Solana, or $ 32.39 million out of a total of $ 130.74 million. This signifies the second largest part of the SOL block store ever recorded, with almost 80% block stores concentrated in the position of contracts.

During the price drop, investors whales would often decide for transactions of options performed by over-counter instead of regular purchase orders on exchange. Put options are derivative contracts that provide investors the right to buy or sell property, instead of obligation. This customer provides a minimal impact, protecting them from potential market instability.