In a report informed by individuals close to the situation, the FTX estate has successfully liquidated $1.9 billion by offloading a considerable amount of solana (SOL), including tokens that were not immediately available due to a vesting schedule.

Insiders Say FTX Sold Millions of Locked Solana Tokens at a Deep Discount

The bankrupt entity formerly known as FTX crypto exchange is said to have transferred between 25 million and 30 million SOL tokens, which were under lockup, to key investors. This development was initially highlighted by Bloomberg, citing sources privy to the initiation of the transaction. From this strategic disposal of solana tokens, the FTX estate reportedly managed to amass $1.9 billion.
The transaction attracted notable participants, including Galaxy Trading and Pantera Capital. It’s estimated that the investors shelled out $64 for each SOL, considering the total of $1.9 billion raised. This is in contrast to SOL’s current weighted global average, standing at $174 per unit. Importantly, these SOL tokens are bound by a four-year vesting schedule. Civic’s Vinny Lingham elaborated that “unlocks are monthly over 4 years with a bullet after 12 months.”
During Solana’s network launch, SOL had already garnered enthusiasm from former FTX founder and current Metropolitan Detention Center (MDC) resident Sam Bankman-Fried, alongside his team. FTX and Alameda Research managed to acquire a significant amount of SOL tokens, despite these being subject to a locked-up vesting period.

This week, solana’s (SOL) market performance faced challenges, with the cryptocurrency SOL experiencing a decline of 5.9% over the week and a 7% drop in the last 24 hours. Despite this, monthly figures indicate a 36% increase for SOL, and over the past year, it has achieved a 737% gain in comparison to the U.S. dollar. After the SOL transaction was disclosed, FTX creditor Sunil Kuvari expressed dissatisfaction with the discounted price set by the FTX estate.
“Bloomberg reported what I said at SBF Sentencing,” Kuvari posted to the social media platform X. “Sullivan and Cromwell sold 2/3 of our $2.6bn Solana at $64 – a massive 62% discount to $172. Galaxy – mandate seller – bought [the] majority themselves. Galaxy is a client of [Sullivan and Cromwell]. This has destroyed billions of value for FTX creditors”
What do you think about the solana token sale? Share your thoughts and opinions about this subject in the comments section below.

TAGS IN THIS STORY

Crypto, Cryptocurrency, ftx, FTX Estate, Sam Bankman-Fried, SOL, SOL vesting period, Solana, Solana (SOL), Solana markets, Sunil Kuvari

Solana SOL Trader Turns $5.3K Investment into $1.03 Million Profit

Source – Watcher Guru

The world of cryptocurrency is a fast-paced environment, where prices can change dramatically in a matter of moments. Solana (SOL), a rising star in the crypto realm, is currently facing challenges as its value hovers around $170. Recent issues with transactions have raised doubts about the network’s reliability, leading to a significant 8% drop in its price. Investors are now uncertain about the future direction of this promising blockchain platform.

A Tale of Success Amidst Uncertainty

Despite the downturn, there are stories of remarkable success that showcase the potential for substantial profits in the volatile crypto market. One such story involves an individual who turned a small investment into a massive profit. With just 30.3 SOL which is approximately worth about $5.3K, this trader capitalized on market opportunities, achieving an impressive 195x return. By using Solana to buy 261.27 million EPIK tokens and later selling them for 5,936.7 SOL which is around $1.04 million, the trader demonstrated the significant profit potential within the crypto landscape.

In just 1 day, this guy made 5,906.4 $SOL($1.03M) with only 30.3 $SOL($5.3K) on #Solana, a gain of 195x.

He spent 30.3 $SOL($5.3K) to buy 261.27M $EPIK and sold 231.27M $EPIK for 5,936.7 $SOL($1.04M).

Address:https://t.co/AFmCrkNsSr pic.twitter.com/usKEYS7Kqh

— Lookonchain (@lookonchain) April 5, 2024

Also Read: Solana Meme Coins Drive 1,326% Returns, New Traders Flourish

Forecasting Solana’s Near Future

As April unfolds, investors are pondering whether Solana will experience a turnaround. The SOL price forecast for April 2024 offers insights into potential price movements. Based on historical data, experts anticipate an average SOL rate of $356.61 for the month. However, it’s crucial to remember that cryptocurrency markets are highly volatile, and forecasts should be approached cautiously.
The forecast indicates a wide range of SOL prices in April, with projections ranging from a minimum of $182.46 to a maximum of $530.76. This variability underscores the inherent unpredictability of the crypto market, where prices can fluctuate rapidly due to various factors such as technological advancements, regulatory changes, and investor sentiment.
Also Read: Solana (SOL) Weekend Price Prediction
Despite challenges, the crypto community remains optimistic about Solana’s long-term prospects. Despite short-term setbacks, the platform’s underlying technology and potential for innovation continue to attract interest. As April progresses, investors will closely monitor price movements, hoping for signs of stability and growth in this dynamic and evolving market.

Solana’s 75% Transaction Failure Rate: SOL Price Under Weekend Pressure?

Source – Euronews

Solana has gained recognition for its exceptional transaction speeds and strong position within the cryptocurrency landscape. However, recent data revealing a significant 75% failure rate in transactions has stirred concerns among stakeholders. On April 4, Dune Analytics disclosed that over three-quarters of non-vote transactions on Solana had failed, marking a record high. This revelation prompted swift criticism from skeptics, questioning Solana’s scalability amidst increased network activity.
Source

Assessing the Surge in Failed Transactions

The rise in failed transactions coincides with a surge in activity, particularly driven by the hype surrounding meme coins. Solana encountered congestion issues, leading to transaction failures as demand spiked. SOL supporters countered concerns, highlighting the network’s exponential growth in transaction volume and user base. Mert Mumtaz, CEO of Helius, dismissed worries over failure rates, attributing many failed transactions to “bot spam” and emphasizing users’ ability to preemptively identify potential issues. He further said,
“This is usually not a big problem for users because your wallet will simulate the (transaction) and let you know that it will not work beforehand anyway.”

Also Read: Solana (SOL) Price Prediction After Bitcoin Halving

there is a stat going around CT about failed transactions on Solana

it is misleading and 90% of the people using it don't know what it means

I will explain (for non-technical folks only)

first, an example of how a usual interaction in web2 works:

– you go on twitter and click… pic.twitter.com/SBcZRDOkD5
— mert | helius.dev (@0xMert_) March 24, 2024

Also Read: Is Donk.Meme The Next Solana Meme Coin To Explode As PreSale Raises 800 SOL?

Solana Weekend Price Prediction

Despite the setbacks, Solana’s native cryptocurrency, SOL, has remained resilient, experiencing only a modest decline in price amidst the turmoil. At the time of writing, SOL is trading at $175.02, with a market capitalization of $81 billion, making it the fifth-largest cryptocurrency by market cap.
Source
Also Read: Solana Meme Coins Drive 1,326% Returns, New Traders Flourish
Looking ahead, analysts remain optimistic about Solana’s prospects, forecasting a potential rebound in price over the weekend. According to Changelly, SOL is expected to rise as high as $192.24, representing a 6% increase from current levels. Furthermore, this bullish outlook reflects confidence in SOL’s underlying technology and its ability to overcome temporary challenges.

Cryptocurrency: Top 3 Coins To Watch Out for in April for Maximum Profits

Image Source: Watcher Guru

The cryptocurrency market is flourishing and buzzing with new token launches. With the ongoing bull phase, the majority of the altcoins have touched new price thresholds, injecting new energy and hopes within the crypto community system. 
However, with such a wide range of cryptocurrency tokens in the mix, it can be particularly hard to dissect and pick the ones that can disseminate maximum profits. Here are our top three crypto coin picks for users to avail maximum profits in April. 
Also Read: Cryptocurrency: Three Altcoins Set to Increase 10X Post-Bitcoin Halving 

What’s In Store For April: Altcoins Version

April is crucial for altcoins in many ways. Primarily, the month will be testing multiple crypto tokens in terms of valuation and steadiness through Bitcoin Halving. 

The event of Bitcoin Halving is set to affect Bitcoin, which in turn will create a ripple effect for the entire crypto ecosystem. Halving will ensure Bitcoin’s scarcity remains intact by slashing the miner’s rewards in half. This in turn will reduce the number of BTC produced, keeping its valuation and element of rarity in check. 
With halving, major altcoins can experience a surge in activity as attention from Bitcoin can shift towards more stable crypto tokens. Altcoins can document notable price surges and hikes, leading them to touch new price thresholds. 
Also Read: Live Bitcoin Halving Countdown

Top Three Crypto Coins to Watch Out In April For Maximum Profits

Cryptocurrency #1: Solana

Solana has recently been topping all charts and is leading the crypto coin race. According to CoinMarketCap, Solana is up 40% in the last month, with a promising price record. The SOL ecosystem is awaiting new token launches in April, which can further drive its price. 

Per CoinCodex, Solana is poised to gain 40% by April 10, 2024. 
“The Solana price forecast for the next 30 days is a projection based on the positive and negative trends in the past 30 days. Based on these Solana projections, SOL will be changing hands at $279.63 on April 10, 2024, gaining 49.16% in the process.” 
Similarly, the platform predicts Solana to gain 151%, with a price threshold of $472 by April 26. 

Cryptocurrency #2: Litecoin

Litecoin is another stellar crypto coin that has quietly been ascending to new price highs. According to Santiment, Litecoin has noted an 8.9% surge in the last 24 hours. 
“Litecoin (+8.9%) is well ahead of the #altcoin pack in the past 24 hours, powered by significantly higher transaction volume than usual throughout the past month. More importantly, the average of LTC investments is getting younger, indicating whales are moving more coins back into circulation.”. Santiment shared
Per CoinCodex, Litecoin is poised to gain an additional 7% in April–May 2024. 
“According to our current Litecoin price prediction, the price of Litecoin is predicted to rise by 7.40% and reach $108.72 by May 3, 2024. Per our technical indicators, the current sentiment is bullish, while the Fear & Greed Index is showing 71 (greed). Litecoin recorded 18/30 (60%) green days with 7.39% price volatility over the last 30 days.” 
Furthermore, the platform predicts that Litecoin can undergo a 0.7% spike by April 10, which will catch pace post-Bitcoin halving. Litecoin may trade at a price level of $103 by April 25, giving the token a much-needed boost. 

Cryptocurrency #3: Chainlink

Chainlink is also a leading altcoin, gaining steady market momentum this bull season. According to CoinMarketCap, LINK is exchanging hands at $18, up 0.40% in the last 24 hours. The token is also trending, with its chart showing a positive uptrend coming soon. 
Per Coincodex, Chainlink may soon encounter a new surge this April. The token may surge 20% this April, hovering at a price level of $20–$21. 
Also Read: Cryptocurrency: Top 3 Altcoins That May Surge 50%–100% Post Bitcoin Halving 
“According to our current Chainlink price prediction, the price of Chainlink is predicted to rise by 21.64% and reach $22.08 by May 3, 2024. Per our technical indicators, the current sentiment is bearish, while the Fear & Greed Index is showing 71 (greed). Chainlink recorded 14/30 (47%) green days with 5.16% price volatility over the last 30 days.” 
These altcoins are in an affordable range and poised to accumulate steady returns. However, the crypto market is known for its high volatility. Hence, users must practice conscious discretion while dealing with crypto tokens and coins. 

• chainlink
• LITECOIN
• Solana

XRP Price: Analyst Bullish For $1 Breakout Despite Ripple’s Sluggish Ascent 

Image Source: Watcher Guru

The XRP price is still projecting a gradual upward ascent despite Ripple’s effort to expand its ecosystem. With Ripple announcing a critical USD-pegged stablecoin development, XRP responded to the development by documenting a modest spike of 0.6% in its price without altering its long-term pace. 
Despite Ripple’s sluggish price growth, several analysts on X are projecting a bullish price prediction for XRP. Egrag Crypto, a notable analyst on X, has issued a new forecast, adding that XRP will soon be able to hit critical price markers of $0.702 and $0.786.
Also Read: Ripple: Will XRP Break Past Its Consolidation Phase To Hit $1 Post Bitcoin Halving? 

When Will XRP Explode?

Source: WatcherGuru
According to Egrag Crypto, XRP’s next price targets are leveled at the $0.702-$0.786 thresholds. The analyst noted how XRP is poised to gain considerable momentum soon after it crosses the critical resistance levels hovering at these price targets. 

#XRP The White Flame ⚪️:#XRP is Crashing 😂😂😂😂😂.

If you cannot the beautiful Ascending Channel since May 2022 then i suggest to sell your #XRP and get the out of my comments section. #XRPArmy STAY STEADY, I am getting more stubborn when it comes to #XRP ride it or die… https://t.co/HjSKvTamlw pic.twitter.com/EIUxuBN8TB
— EGRAG CRYPTO (@egragcrypto) April 3, 2024

Analysts at Techopedia have also predicted a bullish price trajectory for XRP. The platform forecasts a $1.80 price mark for XRP, which the token is expected to reach by the end of 2024.
“XRP has seen moderate gains (~18%) since Bitcoin ETF approval compared to other tokens in the top 10. It has posted gains of 50% and more. This is likely because investors are awaiting the conclusion of the Ripple lawsuit. Therefore, our XRP price prediction forecasts a price of $1.80 by the end of 2024.“
The platform later predicts how XRP may also breach an ambitious price mark of $3 by 2024, provided Ripple wins the case against the SEC. However, the platform further noted how XRP could also hit a new price low if it fails to win the case against the US Securities and Exchange Commission.
“Depending on the lawsuit’s outcome and crypto market conditions, it could go much higher, potentially reaching $3.10. Nevertheless, there is also scope for lows of $0.30 if the case swings in the SEC’s favor.”

Also Read: Ripple: When Will XRP Hit Critical Price Markers of $0.70 and $1?

XRP April Forecast

For April, Coinpedia expects XRP to experience modest price hikes coupled with a few price downturns. The platform expects XRP to average around the $0.81 price mark in April 2024. 
Another leading platform, CoinCodex predicts XRP to gain 11% by April End and the First week of May 2024.
“According to our current XRP price prediction, the price of XRP is predicted to rise by 11.75% and reach $ 0.652837 by May 5, 2024. Per our technical indicators, the current sentiment is Bearish while the Fear & Greed Index is showing 79 (Extreme Greed). XRP recorded 16/30 (53%) green days with 4.11% price volatility over the last 30 days.” 

• Ripple
• xrp
• XRP Price Prediction