Solana Price Prediction – Can SOL Recover as it Falls 40% in a Week?
Solana price prediction is bearish; however, the closing of the daily candle above $11.50 is signaling chances of a bullish reversal. According to crypto influencer DrProfitCrypto, the Solana (SOL) team delayed the start of the staking unlock period by two days. However, token holders could still access and sell their SOL holdings.
Lock-in for Solana's staking was intended to finish on the 9th or 10th of November. Following the conclusion, 18,000,000 SOL tokens will be made available.
Given the recent events surrounding the FTX (FTT) crash and Solana's ties to the FTX, technical outlook predicted a double-dip for SOL as a result of the unexpected surge in supply.
By delaying the unlock, the expected double-dip has also been delayed, providing Solana's developers more time to sell their SOL tokens at the present price before the token's value drops.
In 2021, Solana attracted a diverse group of private investors, including Alameda Research, who contributed $300 million to the company's native token sale. In this round of funding, Andreessen Horowitz was the main investor. Fried's, a financial services provider, has kept its Solana blockchain integration.
Investors are concerned that SBF and FTX may lose their investments in Solana and its ecosystem. Worse, the Solana blockchain is currently having performance challenges. As a result, it's one of the primary reasons for Solana's bearish bias.
The status dashboard for the Solana network shows that the network is now operating at a lower capacity. As a result, it appears that investors considering investing in Solana should proceed with care.
There have been 13 disruptions recorded so far this year, with the biggest lasting for 16 hours and 24 minutes on January 6.
On November 8
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