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FTX Offloads Solana At 62% Off, Earns $2B, Rend
Rival’s Investment Spike
With all kinds of events happening in the crypto market, the latest one includes a massive Solana
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offloading by FTX. This transaction comes after a long period of speculation, bearing in mind the impact it can have on Solana’s price. As much as 20% SOL tokens are held by FTX, and they were able to liquidate around two-thirds at a huge discount, thus making some gains on the way. Meanwhile, a new ICO, InQubeta is challenging Render with a significant investment spike.
 
Strategic Solana Sale By FTX
FTX’s recent move to sell 30 million SOL tokens at $64 each—a 62% cut from the market value—was a dramatic moment in the cryptocurrency world. This discounted pricing was necessary because these tokens were locked, meaning they weren’t available for immediate trading. The sale generated over $2 billion, a crucial step in FTX’s effort to pay back its myriad creditors as part of its bankruptcy proceedings, with the court having given its go-ahead six months earlier.