{"id":551389,"date":"2023-09-14T18:00:19","date_gmt":"2023-09-14T18:00:19","guid":{"rendered":"https:\/\/ktsl888.com\/?p=551389"},"modified":"2023-09-14T16:04:09","modified_gmt":"2023-09-14T16:04:09","slug":"ftxs-billion-dollar-solana-liquidation-market-crash-or-just-hype","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/solana\/ftxs-billion-dollar-solana-liquidation-market-crash-or-just-hype\/","title":{"rendered":"FTX’s Billion-Dollar Solana Liquidation: Market Crash Or Just Hype?"},"content":{"rendered":"

The potential Solana (SOL) liquidation from failed exchange FTX has become a focal point for traders and crypto investors. The speculation and accompanying FUD (Fear, Uncertainty, Doubt) surrounding the potential sell-off have amplified market uncertainties.<\/span><\/p>\n

A recent court approval paved the way for the embattled exchange FTX to liquidate $3.4 billion in diverse digital assets. This move, announced<\/a> by Judge John Dorsey, has set off a whirlwind of debates, especially regarding Solana, one of the assets in FTX’s portfolio.<\/span><\/p>\n

Related Reading: Solana Gains 5% Despite CPI Latest Data And FTX Liquidation Approval \u2013 Here Could Be Why<\/a><\/div>\n

Diving Deep: FTX’s Solana Holdings And Potential Impact<\/span><\/h2>\n

Among FTX’s vast portfolio, a prominent $1.16 billion is in Solana (SOL). When pitted against FTX’s overall liquid cryptocurrency assets<\/a> worth $3.4 billion, SOL forms a hefty chunk, over one-third. <\/span><\/p>\n

FTX’s potential dumping of SOL and its conceivable effect on centralized exchanges has led to increasing debates about its potential price impact on the token. However, crypto analyst MartyParty has ventured into the heart of the discussion, trying to clear the air. <\/span><\/p>\n

The analyst shed light on FTX’s SOL position in a revealing tweet. Highlighting the intricacies, the analyst stated that many of these holdings, linked to FTX’s sister company Alameda, consist of staked SOL tokens. These, crucially, remain locked until 2025. <\/span><\/p>\n

\n

This is Alamedas Solana wallet which has the rights to the 26,740,743 staked $SOL<\/a> from 2025-2028.<\/p>\n

This wallets keys will be sold in the FTX liquidation. Not the $SOL<\/a> which cannot be unlocked until 2025-2028.<\/p>\n

As Ive been posting for weeks – FTX\/Alameda only hold 7m $SOL<\/a> and\u2026 pic.twitter.com\/WeIkCKf2Ek<\/a><\/p>\n

\u2014 MartyParty (@martypartymusic) September 13, 2023<\/a><\/p><\/blockquote>\n

As a result, any immediate liquidation involving these tokens remains off the table. MartyParty also emphasized that the imminent FTX liquidation<\/a> is solely for selling the wallet keys, not the wallet’s contents.<\/span><\/p>\n

Understanding The True Scope Of The Sale<\/span><\/h2>\n

Further clarification by MartyParty indicates that when the staked tokens are set aside, FTX and Alameda only hold 7 million SOL<\/a> and Wrapped SOL (wSOL). These are already slated for pre-sale to the Solana Foundation. <\/span><\/p>\n

In MartyParty words, “There is no more Solana to sell.” When viewing this in light of Solana’s daily trading volume, which fluctuates between 350 million and 450 million tokens, it’s evident that the market can comfortably absorb the FTX liquidation without significant disruption.<\/span><\/p>\n

To provide perspective, even a total liquidation of FTX’s SOL holdings at the current market rate<\/a> would tally up to $128.6 million. Not to mention, the weekly sell-off cap set at $100 million further ensures market stability, according to MartyParty.<\/span><\/p>\n

MartyParty concluded his deep dive by emphasizing<\/a> that no liquidation event in the past has significantly shaken the crypto market. It’s a “narrative spun to spur sales, with exchanges often capitalizing on the panic to buy low and sell high.”<\/span><\/p>\n

Related Reading: SOL Price Prediction: Solana At Make-Or-Break Moment, Key Levels To Watch<\/a><\/div>\n

Meanwhile, over the past 24 hours, Solana has been bullish. The asset is currently up by 4%<\/a> with a market price of $19.05, at the time of writing.<\/p>\n

\"Solana
Solana (SOL)\u2019s price is moving sideways on the 4-hour chart. Source: SOL\/USDT on TradingView.com<\/a><\/figcaption><\/figure>\n

Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

The potential Solana (SOL) liquidation from failed exchange FTX has become a focal point for traders and crypto investors. The speculation and accompanying FUD (Fear, Uncertainty, Doubt) surrounding the potential sell-off have amplified market uncertainties. A recent court approval paved the way for the embattled exchange FTX to liquidate $3.4 billion in diverse digital assets. This move, announced by Judge John Dorsey, has set off a whirlwind of debates, especially regarding Solana, one of the assets in FTX’s portfolio. Related Reading: Solana Gains 5% Despite CPI Latest Data And FTX Liquidation Approval \u2013 Here Could Be Why Diving Deep: FTX’s Solana Holdings And Potential Impact Among FTX’s vast portfolio, a prominent $1.16 billion is in Solana (SOL). When pitted against FTX’s overall liquid cryptocurrency assets worth $3.4 billion, SOL forms a hefty chunk, over one-third. FTX’s potential dumping of SOL and its conceivable effect on centralized exchanges has led to increasing debates about its potential price impact on the token. However, crypto analyst MartyParty has ventured into the heart of the discussion, trying to clear the air. The analyst shed light on FTX’s SOL position in a revealing tweet. Highlighting the intricacies, the analyst stated that many of these holdings, linked to FTX’s sister company Alameda, consist of staked SOL tokens. These, crucially, remain locked until 2025. This is Alamedas Solana wallet which has the rights to the 26,740,743 staked $SOL from 2025-2028. This wallets keys will be sold in the FTX liquidation. Not the $SOL which cannot be unlocked until 2025-2028. As Ive been posting for weeks – FTX\/Alameda only hold 7m $SOL and\u2026 pic.twitter.com\/WeIkCKf2Ek \u2014 MartyParty (@martypartymusic) September 13, 2023 As a result, any immediate liquidation involving these tokens remains off the table. MartyParty also emphasized that the imminent FTX liquidation is solely for selling the wallet keys, not the wallet’s contents. Understanding The True Scope Of The Sale Further clarification by MartyParty indicates that when the staked tokens are set aside, FTX and Alameda only hold 7 million SOL and Wrapped SOL (wSOL). These are already slated for pre-sale to the Solana Foundation. In MartyParty words, “There is no more Solana to sell.” When viewing this in light of Solana’s daily trading volume, which fluctuates between 350 million and 450 million tokens, it’s evident that the market can comfortably absorb the FTX liquidation without significant disruption. To provide perspective, even a total liquidation of FTX’s SOL holdings at the current market rate would tally up to $128.6 million. Not to mention, the weekly sell-off cap set at $100 million further ensures market stability, according to MartyParty. MartyParty concluded his deep dive by emphasizing that no liquidation event in the past has significantly shaken the crypto market. It’s a “narrative spun to spur sales, with exchanges often capitalizing on the panic to buy low and sell high.” Related Reading: SOL Price Prediction: Solana At Make-Or-Break Moment, Key Levels To Watch Meanwhile, over the past 24 hours, Solana has been bullish. The asset is currently up by 4% with a market price of $19.05, at the time of writing. Featured image from iStock, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":551392,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84543],"tags":[134,6664,71704,12837,83626,83627],"class_list":["post-551389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-solana","tag-altcoin","tag-crypto","tag-ftx","tag-sol","tag-solana","tag-solusdt"],"acf":[],"yoast_head":"\nFTX's Billion-Dollar Solana Liquidation: Market Crash Or Just Hype?<\/title>\n<meta name=\"description\" content=\"So far,\u00a0FTX's anticipated Solana (SOL) liquidation has become a focal point for traders and investors alike. 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/ktsl888.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"FTX’s Billion-Dollar Solana Liquidation: Market Crash Or Just Hype?","url":"http:\/\/ktsl888.com\/news\/solana\/ftxs-billion-dollar-solana-liquidation-market-crash-or-just-hype\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/solana\/ftxs-billion-dollar-solana-liquidation-market-crash-or-just-hype\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/09\/FTXs-Billion-Dollar-Solana-Liquidation.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/09\/FTXs-Billion-Dollar-Solana-Liquidation.jpg?fit=550%2C314"},"articleSection":"Solana","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoin","crypto","ftx","sol","solana","solusdt"],"dateCreated":"2023-09-14T18:00:19Z","datePublished":"2023-09-14T18:00:19Z","dateModified":"2023-09-14T18:00:19Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"FTX’s Billion-Dollar Solana Liquidation: Market Crash Or Just Hype?\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/solana\\\/ftxs-billion-dollar-solana-liquidation-market-crash-or-just-hype\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/solana\\\/ftxs-billion-dollar-solana-liquidation-market-crash-or-just-hype\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/FTXs-Billion-Dollar-Solana-Liquidation.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/FTXs-Billion-Dollar-Solana-Liquidation.jpg?fit=550%2C314\"},\"articleSection\":\"Solana\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoin\",\"crypto\",\"ftx\",\"sol\",\"solana\",\"solusdt\"],\"dateCreated\":\"2023-09-14T18:00:19Z\",\"datePublished\":\"2023-09-14T18:00:19Z\",\"dateModified\":\"2023-09-14T18:00:19Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2023\/09\/FTXs-Billion-Dollar-Solana-Liquidation.jpg?fit=550%2C314","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/551389"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=551389"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/551389\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/551392"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=551389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=551389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=551389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}