Krutika Adani
After successfully redeeming $600 million worth of Robinhood shares, FTX appears to be prepared for the final tranche of payment to large creditors and authorities.
FTX is selling the current lot of 177,692 SOL after SOL recovered from $125 levels to $140 levels at press time.
FTX, a founding investor in SOL, still has more than 7 Million Solana in its wallet, valued at $1 billion.
The $24 million FTX sale is much smaller than Solana’s daily trading volume of $2 billion and is unlikely to dent current market prices.
Solana could reach $170 levels again if it decisively crosses $147 by next week. On the downside, $125 remains a solid support zone.