On 11 July, blockchain-based transaction tracker Lookonchain revealed that the defunct crypto exchange FTX and bankrupt trading firm Alameda had unstaked 189,851 SOL worth $30.94 million. This action raised concerns among Solana (SOL) holders about a potential price dip, as substantial unstaking can slow down the asset’s upside or even cause a price drop. However, the amount unstaked was not large enough to significantly affect SOL’s price.
Despite the concerns, Solana (SOL) had turned bullish on the price charts with three consecutive green candles. At the time of writing, SOL was trading near $163, with 24-hour gains of over 3.5%. The surge was previously around 5.5%, with the price hovering above $166. It can be argued that FTX and Alameda might be responsible for this modest price drop. During the same period, investors and traders have expressed strong interest in the crypto, leading to a 55% jump in the trading…
