A Judge Approves FTXโs Request to Liquidate $3.4 Billion in Digital Assets
A judge has granted bankrupt cryptocurrency exchange FTX the permission to liquidate its $3.4 Billion worth of digital asset holdings. This decision comesย after concerns about the mass liquidation of Solanaย (SOL) tokens caused a fall in price. Nonetheless, the situation appearsย to have calmed down as Solana (SOL) has experienced a nearly 4% increase for the week.
It isย worthย mentioningย that FTX wonโt be be able to dump all of its Solana (SOL) tokens on the market at once, which could potentially lead to a wholeย lotย of price collapse. The bulkย of FTXโs Solana (SOL) tokens are locked until 2028.
Price Prediction โ Is the Solanaย (SOL) Sell-Off Over?
Traders are now wondering if the sell-off of Solana (SOL) might be coming to an end, especially with a recent 10% rally from its weekly lows. Since reaching its yearly high over $31 per token in July, Solana (SOL) has been experiencing a downtrend.
The price of Solanaย (SOL) has been limited by a downtrend and the 21-day moving average since mid-August. Nonetheless, if the digitalย currency manages to break through these resistance levels, itย might potentially retest the 100 and 200-day moving averages at around $21 and a critical medium-term support-turned-resistance zone at $22.0.
Wall Street Memes Launches Its Own Memeย Coin Coin Token $WSM
Wall Street Memes, an influential retail investing community on social media, is expanding into cryptocurrency with its Memeย Coin coin token wasย known $WSM. The presale of $WSM has already raised over $25 Million and gained support from numerous cryptocurrency industry influencers and analysts.
Investors interested in $WSM have limited time left toย engage, as the presale is set to end in less than 14 days. This token has theย capacity to rival or even surpass trending Memeย Coin coins like Pepe Coin, Dogecoinย (DOGE), and Shiba Inu.
To get involved and buy $WSM, click here.
Hot Take: The Future of Solana (SOL) and the Rise of Wall Street Memesโ $WSM Token
The recent approval for FTX to liquidate its digital assets has alleviated concerns about a substantial dump of Solana (SOL) tokens that could collapse the price. With the bulkย of FTXโs Solana (SOL) tokens locked until 2028, the sell-off may not be as severe as atย theย beginning feared.
Inย theย meantime, Solana (SOL) is showing indicationsย of a probable recovery, with a 4% increase for the week and a recent rally from its lows. Traders are closely watching if the digitalย currency can break through key resistance levels to signal a reversal in the downtrend.
On another note, Wall Street Memesโ entry into the cryptocurrency market with its $WSM token has gained wholeย lotย of attention and support. With a successful presale raising millions of dollars and endorsements from industry influencers, $WSM has theย capacity to become a prominent Memeย Coin coin in the cryptocurrency space.
Wyatt Newson emerges as a luminary seamlessly interweaving the roles of crypto analyst, dedicated researcher, and editorial virtuoso. Within the dynamic canvas of digital currencies, Wyatt’s insights resonate like vibrant brushstrokes, capturing the attention of curious minds across diverse landscapes. His ability to untangle intricate threads of crypto intricacies harmonizes effortlessly with his editorial mastery, transmuting complexity into a compelling narrative of comprehension.
