FTX's $3.4 Billion Crypto Liquidation and the Resilience of Solana: What You Need to Know
Major development in the crypto world! Bankrupt exchange FTX gets US court approval to liquidate a staggering $3.4 billion in digital assets
Judge John Dorsey authorizes the sale of Solana, Ethereum, Bitcoin, and more
The crypto market's performance is a mixed bag, with some bullish signs on daily and weekly charts
The global crypto market cap takes a 30% hit in 24 hours, dropping from $1.04 trillion to less than $500 billion before rebounding to $750 billion
Trading volumes plummet by 68% to $9.98 billion in the past 24 hours, signaling vulnerability.
Surprisingly, Solana (SOL) stands resilient, surging by 4.5% in the last 24 hours, even amidst the FTX liquidation news
SOL's strength might be attributed to its majority holdings, approximately $1.2 billion, being staked and unliquidatable
Only a fraction of $SOL is accessible to FTX for liquidation. Analysts believe this shields SOL from a steep selloff.
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