$SOL

$SOL is down 5.89%, currently at $178.03, following FTX’s $16 billion repayment plan. With over $2B set to be repaid in SOL tokens, the market is facing increased supply, causing downward pressure on the price.

What’s Driving the Dip?

Increased SOL Supply: FTX’s release of $2B in SOL tokens is adding pressure to the market.

Market Cap Impact: More tokens with stable demand leads to short-term price drops.

FTX’s Role: The repayment plan is increasing token circulation, contributing to a dip in market cap.

What This Means for Traders:

Short-Term Opportunity: Expect volatility. Long-term investors should watch for potential entry points at lower prices, while short-term traders need to manage risk.

Support Levels to Watch: Look for strong support zones that could trigger a bounce.

Pro Tip: Don’t panic sell—this may be a short-term effect, and the market could stabilize once the tokens are absorbed.

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