Solana releases 80 million SOL from staking contracts

2022/11/16 01:53

According to U.Today, Solana investors are bracing themselves for an upcoming surge in selling pressure caused by the release of 80 million SOL coins from staking contracts. Luckily, the market was not hit with a one-time injection of the aforementioned sum, and whales will most likely redistribute them evenly across various trading platforms. According to the volume profile on the asset, retail traders are no longer trading the asset as they did prior to the massive crash. The most likely reason is the aforementioned 80 million SOL floating on the market and waiting to get dropped on the heads of investors. It is not clear yet if the massive selling volume will be absorbed by some entity on the market or will be redistributed among retail investors.

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