Solana: Latest updates and what to do.
Hello all and welcome.
I was asked to give my opinion on SOL so lets get straight to the point.
Things are looking extremely bad and I recommend selling whatever is left in the bag and forgetting about SOL. Why?
Looking at coin market cap, the 24 hr trading volume is recorded to be $4,063,992,273.
Secondly, Nearly $1 billion of solana is set to be unstaked today. This is very bearish (link below).
And lastly, Alameda research which holds about 800 M worth of SOL, is getting ready to sell it all after the “epoch 370” event. This will only cause further drop and most likely below $5 prices for SOL.
Unless you are ready to hold and not a leverage trader, it is okay to keep your positions open hoping for a recovery in the future. But make sure you transfer your Tokens from FTX to Binance at least.
Personally I will not even buy the drop. Not SOL and not FTT.
Hope this helps.
Thanks for reading, and stay tuned.
I was asked to give my opinion on SOL so lets get straight to the point.
Things are looking extremely bad and I recommend selling whatever is left in the bag and forgetting about SOL. Why?
Looking at coin market cap, the 24 hr trading volume is recorded to be $4,063,992,273.
Secondly, Nearly $1 billion of solana is set to be unstaked today. This is very bearish (link below).
And lastly, Alameda research which holds about 800 M worth of SOL, is getting ready to sell it all after the “epoch 370” event. This will only cause further drop and most likely below $5 prices for SOL.
Unless you are ready to hold and not a leverage trader, it is okay to keep your positions open hoping for a recovery in the future. But make sure you transfer your Tokens from FTX to Binance at least.
Personally I will not even buy the drop. Not SOL and not FTT.
Hope this helps.
Thanks for reading, and stay tuned.
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