 | With all the fallout regarding FTX there might be a bright side. SOL appears to be about to fall out of the top ten crypto by marketcap, and looks like it's about to be flipped by Matic. Source for screenshots below What's happening is Alameda Research holds a large supply of the VC darling, Solana - Alameda also appears to be the main buyer of FTT during this unprecedented sell-off. Solana is down 13% in the last 24 hours, one of the worst-performing cryptos of the day even worse than FTT. Speculation is Solana is being sold off by Alameda in an attempt to keep support for FTT above $22. This appears to be causing massive sell pressure of SOL and the price is dumping just days after an announced partnership with Google. Yesterday there was a roughly $2B difference between #10 and #11 by marketcap. Today that difference is down to about $480M and the gap is rapidly closing (it closed $120M while writing this post). [link] [comments] |
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