FTX Unstakes $30.9 Million in SOL, Can Solana Stay Strong?
2025-07-11 12:45:39
Main Idea
The crypto market is experiencing a surge, with Bitcoin hitting a record high and major altcoins like Ethereum, XRP, and Solana also rallying, while FTX's recent SOL staking and unstaking activities raise questions about market impact.
Key Points
1. Bitcoin surged past $118K, and major altcoins like Ethereum, XRP, and Solana gained 5–8%.
2. FTX staked 189,851 SOL worth $30.94 million, raising questions about its impact on market confidence.
3. FTX previously unstaked large amounts of SOL, causing price dips of 3-5% each time.
4. Solana remains strong at $164.71, up 4.5%, with optimism about reaching new highs.
5. Solana led in Q2 2025 revenue with $271 million, driven by DeFi, NFTs, and app activity.
6. BIT Mining and DeFi Development Corp are increasing their SOL holdings, signaling strong institutional backing.
Description
The post FTX Unstakes $30.9 Million in SOL, Can Solana Stay Strong? appeared first on Coinpedia Fintech News The crypto market is trading in green today on the heels of Bitcoin hitting record-breaking highs above $118K. Major altcoins like Ethereum, XRP, and Solana also rallied 5-8% today. Amidst the broader crypto market rally, FTX has released massive amounts of SOL today. FTX Stakes $30.9 million in SOL, Sell Off Next? Data from lookonchain shows that FTX staked 189,851 SOL, worth $30.94 mill...
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