Solana Has Difficulty With The Situation Of Unlocking A Large Number Of Stake Tokens

Will Solana’s unstake plan result in a drop in SOL’s value?
Solana Has Difficulty With The Situation Of Unlocking A Large Number Of Stake Tokens

A large number of SOL validators have stopped staking 29.2 million SOL in preparation for withdrawal within the next few hours. This is the second-largest volume of tokens unlocked in SOL’s history amid the post-FTX crisis of the entire crypto market.

However, according to the Solana Foundation, Hetzner fired a large number of SOL’s independent validators on November 2. In order to restake to validators working in alternate regions, the foundation started the process of unstaking the 28.5 million SOL allocated to those validators as part of the foundation’s Delegation Program, which went into force at epoch 370.

The decision to unstake has since been delayed, and all 28.5 million SOL have been re-staked.

At the time of writing, SOL is trading at $15.

Solana Has Difficulty With The Situation Of Unlocking A Large Number Of Stake Tokens
SOL daily chart. Source: Coincu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

Solana Has Difficulty With The Situation Of Unlocking A Large Number Of Stake Tokens

Will Solana’s unstake plan result in a drop in SOL’s value?
Solana Has Difficulty With The Situation Of Unlocking A Large Number Of Stake Tokens

A large number of SOL validators have stopped staking 29.2 million SOL in preparation for withdrawal within the next few hours. This is the second-largest volume of tokens unlocked in SOL’s history amid the post-FTX crisis of the entire crypto market.

However, according to the Solana Foundation, Hetzner fired a large number of SOL’s independent validators on November 2. In order to restake to validators working in alternate regions, the foundation started the process of unstaking the 28.5 million SOL allocated to those validators as part of the foundation’s Delegation Program, which went into force at epoch 370.

The decision to unstake has since been delayed, and all 28.5 million SOL have been re-staked.

At the time of writing, SOL is trading at $15.

Solana Has Difficulty With The Situation Of Unlocking A Large Number Of Stake Tokens
SOL daily chart. Source: Coincu

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Harold

CoinCu News

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