Solana (SOL) sees a volatile trade on Tuesday, with a whipsaw move in the early American session.
Solana price today: $151.69 Solana ’s price erases nearly 4% value on Tuesday, back close to $151. Bankrupt FTX exchange’s staking address redeemed nearly $28 million in SOL on Tuesday. The unstaked tokens could flow to exchange wallets, increasing selling pressure and pushing SOL price lower. Solana sees a volatile trade on Tuesday, with a whipsaw move in the early American session.
The SOL staking addresses of the exchange redeemed 178,631 SOL tokens worth $28 million early on Tuesday, according to on-chain data from Solscan. Most of the unstaked tokens are expected to flow back to one of the top centralized exchanges. Previous transactions from the address show that 170,000 SOL is unstaked typically between the 12th and 15th of the month. FTX exchange currently holds another 7.09 million SOL worth $1.107 billion, staked at the time of writing.
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