{"id":23478,"date":"2023-09-15T13:42:43","date_gmt":"2023-09-15T13:42:43","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ftx-could-be-sell-the-rumor-buy-the-news-for-sol\/"},"modified":"2023-09-15T13:42:43","modified_gmt":"2023-09-15T13:42:43","slug":"ftx-could-be-sell-the-rumor-buy-the-news-for-sol","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ftx-could-be-sell-the-rumor-buy-the-news-for-sol\/","title":{"rendered":"FTX could be \u201csell the rumor, buy the news\u201d for SOL"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1677602052568-f522e66c-b6c4-4e5d-a414-6e9191e05b09-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1677602052568-f522e66c-b6c4-4e5d-a414-6e9191e05b09-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1677602052568-f522e66c-b6c4-4e5d-a414-6e9191e05b09-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1677602052568-f522e66c-b6c4-4e5d-a414-6e9191e05b09-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Solana is one of the cryptocurrencies to struggle the most in the market since FTX imploded in 2022.<\/li>\n<li dir=\"ltr\">FTX liquidators have approval to liquidate $3.4 billion worth of crypto assets.<\/li>\n<li dir=\"ltr\">The collapsed exchange holds $1.2 billion in SOL, Solana\u2019s native token.<\/li>\n<\/ul>\n<p dir=\"ltr\">The native Solana token SOL, which makes up a significant percentage of the bankrupt crypto platform FTX\u2019s portfolio of assets, has found it difficult to break higher since the sharp decline registered from above $36 in November last year.<\/p>\n<p dir=\"ltr\">With volatility largely on the downside for most assets, the last few days had sentiment for SOL mostly negative. However, a top crypto analyst says SOL could be primed for a \u201csell the rumour, buy the news\u201d outlook. \u00a0<\/p>\n<h2 dir=\"ltr\">SOL price and FTX liquidation<\/h2>\n<p dir=\"ltr\">Solana is trading around $19.10 on Friday morning, up 1.5% in the past 24 hours. The slight gains come in a week where collapsed crypto exchange <a href=\"https:\/\/coinjournal.net\/news\/tag\/ftx\/\">FTX<\/a> received the court\u2019s go ahead to liquidate $3.4 billion worth of crypto assets as part of its claims plan.<\/p>\n<p dir=\"ltr\">FTX holds $1.2 billion of SOL, but most of that is staked\/locked up as per various contracts. Only a fraction will be released monthly, suggesting little impact on price as markets have largely priced in this scenario.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">FTX gets approval to sell $3.4B in <a href=\"https:\/\/twitter.com\/hashtag\/Crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#Crypto<\/a> assets &amp; CPI data comes in worse than expected<\/p>\n<p>Markets aren&#8217;t falling down that much, and not much should be happening from it. <\/p>\n<p>The Solana, which corresponds to $1.2 billion of the assets of FTX, is mostly staked and can&#8217;t be sold.\ud83d\udc47\u2026 <a href=\"https:\/\/t.co\/uKG9XefCzy\">pic.twitter.com\/uKG9XefCzy<\/a><\/p>\n<p>\u2014 Micha\u00ebl van de Poppe (@CryptoMichNL) <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1702019063986151446?ref_src=twsrc%5Etfw\">September 13, 2023<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">In his comment on the price of Solana after FTX received the court\u2019s nod, Michael van de Poppe <a href=\"https:\/\/twitter.com\/CryptoMichNL\/status\/1702019063986151446\" rel=\"noopener noreferrer\" target=\"_blank\">said<\/a>:<\/p>\n<p dir=\"ltr\">\u201c<em>The Solana, which corresponds to $1.2 billion of the assets of FTX, is mostly staked and can\u2019t be sold. Now, what\u2019s next?<\/em><\/p>\n<p dir=\"ltr\"><em>First of all, FTX can sell up to $200m of assets on a weekly basis for their corresponding clients so the liabilities could be erased. This can add some additional sell pressure on the markets, but that\u2019s probably already priced in. The major fact is that we should be seeing a case of Solana being sold off massively, but as an anticipation, Solana was already sold off entirely in the past week and could result into a \u2018sell the rumour, buy the news\u2019 type of thing<\/em>.\u201d<\/p>\n<p dir=\"ltr\">The analyst notes that most of the SOL that FTX holds cannot be sold and that of the amount that could hit the market, it\u2019s \u201cmostly sold already.\u201d<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/analyst-on-solana-could-be-sell-the-rumor-buy-the-news-for-sol\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Solana is one of the cryptocurrencies to struggle the most in the market since FTX imploded in 2022. FTX liquidators have approval to liquidate $3.4 billion worth of crypto assets. The collapsed exchange holds $1.2 billion in SOL, Solana\u2019s native token. The native [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":23479,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23478"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=23478"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/23478\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/23479"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=23478"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=23478"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=23478"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}