Contents Table 
  • Brief Recovery

  • 5.5 million SOL tokens, worth an estimated $122 million, were staked by the FTX trustee.
  • Despite a recent, fleeting comeback, SOL has down 5.13% during the past week.

An account managed by the FTX trustee staked 5.5 million SOL tokens from one of the primary wallet addresses on the Solana blockchain, with an estimated value of $122 million, according to Solana block explorer SolanaFM.

Investors in SOL were concerned prior to this move that the FTX trustee may sell the SOL tokens in a way that would negatively affect the price of the altcoin, decreasing the value of SOL. The most recent actions taken by the FTX trustee in relation to the SOL tokens allayed all of these concerns.

The Solana Foundation has also pledged a $400,000 reward to anyone who can bring down the Solana network.  Jacob Creech, Developer Relations Lead at the Solana Foundation, said that there is a $400,000 reward for anyone who can shut down the Solana network. 
This was established by the Solana Foundation as a part of their bug bounty program.

 Short Recovery

 According to data from CMC, SOL is currently trading at $22.01, up 2.03% over the past 24 hours. In addition, the trade volume increased by 21.60%. Despite a recent, fleeting comeback, SOL has down 5.13% during the past week.


Solana Price Recovers Following Recent FTX Move


A new rise may be in store if the price pushes through the $22.36 barrier level.
On the other side, if bears enter and push prices lower than $21.78 level, it is possible that it will test recent support at $21.07 level. If this threshold is crossed, the SOL price is anticipated to increase all the way to $20.3.  

DISCLAIMER: We don't provide any investment advice.