Solana’s $2 Billion Token Unlock: Is Your SOL Portfolio Safe on March 1?
- March’s 11.2M SOL unlock may drive volatility, as traders short ahead of release.
- SOL’s RSI nearing oversold levels hints at a possible rebound if selling persists.
- Despite the unlock, 97.52% of SOL tokens are already circulating in the market.
Solana (SOL) is nearing its unlock event on March 1, releasing 11.2 million tokens worth about $2.07 billion. Notably, this comes to 2.29% of the total supply; a sizable cliff unlock.
As the cryptocurrency market reacts to this event, traders anticipate increased volatility through mid-March. In the meantime, technical indicators suggest bearish sentiment, backing up the uncertainty around SOL’s price movement.
Large Unlock Size & Potential Market Pressure
The upcoming unlock includes tokens from the FTX Estate and a separate foundation sale.
Even so, the release is just 0.01% of Solana’s total market capitalization, which is now $90.45 billion. However, the unlock size is nearly…
The post Solana’s $2 Billion Token Unlock: Is Your SOL Portfolio Safe on March 1? appeared first on Coin Edition.
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Solana’s $2 Billion Token Unlock: Is Your SOL Portfolio Safe on March 1?
- March’s 11.2M SOL unlock may drive volatility, as traders short ahead of release.
- SOL’s RSI nearing oversold levels hints at a possible rebound if selling persists.
- Despite the unlock, 97.52% of SOL tokens are already circulating in the market.
Solana (SOL) is nearing its unlock event on March 1, releasing 11.2 million tokens worth about $2.07 billion. Notably, this comes to 2.29% of the total supply; a sizable cliff unlock.
As the cryptocurrency market reacts to this event, traders anticipate increased volatility through mid-March. In the meantime, technical indicators suggest bearish sentiment, backing up the uncertainty around SOL’s price movement.
Large Unlock Size & Potential Market Pressure
The upcoming unlock includes tokens from the FTX Estate and a separate foundation sale.
Even so, the release is just 0.01% of Solana’s total market capitalization, which is now $90.45 billion. However, the unlock size is nearly…
The post Solana’s $2 Billion Token Unlock: Is Your SOL Portfolio Safe on March 1? appeared first on Coin Edition.
Read More