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Solana Investors Prepare for the Coming Wave of Coins While the Ethereum Network Blooms
As markets slowly recover after the recent catastrophe, most of the assets are ethereum and Chainlink are facing comfortable price volatility and are once again profitable for short-term investors. But not everyone is at the party.
As previously mentioned, Solana investors are preparing for an upcoming surge in selling pressure caused by the release of 80 million SOL coins from their staking contracts. Luckily, the markets weren’t hurt by his one-off injection of the aforementioned amount, and Whale will most likely redistribute them evenly across the various trading platforms.
However, the impact of millions of free SOLs hitting the market will inevitably cause selling pressure to skyrocket in the future. As we can see today, Solana has already taken the market by storm, losing more than 5% of its value in the last 24 hours, despite the market overall being positive.
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Given the plummeting liquidity of the asset after the fall, FTX There isn’t much support below the $14 price level, so $80 million is likely to hit the market in the next few days.
According to the asset’s volume profile, retail traders no longer trade the asset as they did before the major crash. The most likely reason is that his aforementioned 80 million SOL is on the market, waiting to fall on investors’ heads.
Unfortunately, it is not yet clear whether the massive sales volume will be absorbed by some entities in the market or redistributed among private investors.After the 80 million release, more validators I closed my position. This means that the stress on the market will rise exponentially, especially if his SOL falls further.
Thanks to resilient performance during the FTX crisis and underlying growth of the network, Ethereum is seeing fresh inflows of funds and is approaching local resistance levels at the $1,372 price level.
As on-chain data suggests, Ethereum is seeing a surge in new validators, with blockchain betting up 10% in recent days. As panic erupted around FTX, Ethereum network activity increased significantly, causing Burnhis rate to surge to a multi-month high, ethereum become deflationary.
At this point, even if trading activity on the network suddenly drops, asset inflation will not accelerate again, and the supply of cryptocurrencies will continue to decline. Ahead of Merge’s update, most analysts agreed that deflation would be one of the most important factors for his Ethereum’s growth in the foreseeable future.
with the strong performance of ethereumbeneficiaries of projects like Lido are seeing increased network activity and strong price performance of underlying tokens like LDO. However, Ethereum climbed to $1,275, gaining 2.7%.
