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 4

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.

Source: Solana Compass

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.

SOL daily chart. Source: Coincu

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Harold

CoinCu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.