- SOL and MATIC are part of the tokens that FTX could liquidate this week or next.
- Before the liquidation, SOL may continue to consolidate around $18 unless selling pressure appears.
- MATIC, on the other hand, may fall below $0.50, as indicated by the OBV.
Despite enduring torrid periods over the past few weeks, the crypto market may be on the verge of another nosedive. This is because FTX, the exchange that brought the market to its knees in 2022, is getting ready to liquidate some of its assets, and Solana (SOL) and Polygon (MATIC) are part of it.
According to crypto podcast Crypto Town Hall, approximately $650 million worth of SOL could be sold by FTX soon. Other assets held by the exchange, and could also be sold include Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and a host of others.
FTX COULD TANK CRYPTO MARKETS AGAIN NEXT WEEK— Crypto Town Hall (@Crypto_TownHall) September 10, 2023
Sam Bankman-Fried's FTX exchange, now navigating bankruptcy, has officially filed a motion to convert its significant cryptocurrency holdings into fiat to settle its debts. A pivotal court hearing regarding this motion is scheduled… pic.twitter.com/JNEpWaSMD8
Whil…
The post SOL, MATIC Could Be on the Brink of Another Fall, Here’s Why appeared first on Coin Edition.
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