The slightest crypto event can set off ripple effects on various crypto projects. Like with the latest news around FTX, several projects including Solana are getting hit with SOL’s price suffering a decline amidst fear of a possible massive Solana selloff by FTX.
Amidst these concerns, Solana investors have now found another project with promising potential for the investment refuge and recovery they desire. This project has been shortlisted by expert crypto analysts as one of the top cryptos to buy right now.
Find out all about the present selloff fears around SOL and why this rival meme coin presents solid potential.
FTX Scare Sparks Massive Downturn in Solana (SOL) Price
In August 2020, FTX and Alameda first bought Solana (SOL) from the Solana Foundation. This purchase comes six months after the launch of the mainnet beta.
This means FTX now holds the largest portion of the asset, which is hundreds of millions of dollars worth of SOL. According to court documents, the total asset holding is approximately 47.5 million tokens worth around $685 million.
However, the sales agreement at the point of purchase has most of this holding locked in vesting until 2028. Therefore, the firm can only sell $100 to $200 million per week of these assets in its possession. Despite this agreement, several traders are now offloading their SOL tokens over the last week, sending SOL’s price down by 5.8% in the last 24 hours and an intraday low of $17.87.
At press time, SOL trades around $17.69, having dropped 13% over the past two weeks following the heightened selling pressure. Currently struggling at its lowest level since late June, SOL is the worst-performing crypto asset in the top 30 according to date at the opening of the week.
The first official in game shot!
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Pikamoon (PIKA) is the Refuge For Solana Investors
Pikamoon presents a next-level metaverse game called the Pikamoon Adventure where gamers get rewarded with PIKA or NFTs as they win adventurous quests, defeat monsters and discover treasures. These rewards are available to gamers directly and can be converted to real money through the in-game marketplace thanks to Transak.
But, there’s more to Pikamoon’s appeal and potential.
Massive Credibility from Experts Support
Pikamoon is a project loved by the best crypto experts and this project makes the most of the credibility that brings for fast growth. With this, the project attracts more investors and gamers, who can see and believe it is poised for a takeover of the GameFi world as it has begun from its presale.
Having earned a place in the top 10 crypto list to buy, Pikamoon appears set for growth, unlike the uncertain Solana.
Pikamoon Promises Safe Investment Through Its Doxxed Core Team
From the Pikamoon team, investors can sense a guarantee of safe investment as every member of the project team must pass a thorough verification and audit process before they can join. This earns them the trust of both community members and investors and attracts more investors which means more profits.
Pikamoon’s Financial Plan Set It Up for Constant Growth
Pikamoon has a financial plan that enables the constant addition of features to keep the project growing and staying positive. This includes setting aside 10 billion of the 50 billion PIKA tokens minted specifically for constant improvement on the project. With this, Pikamoon keeps growing and delivering huge returns.
Lots More to Come During and After the Pikamoon Presale
The ongoing Pikamoon presale might have smashed records right from the beginning. But, while its third and final phase continues with PIKA valued at just $0.0006, experts recommend investing in the token at this easy entry price.
Savvy investors believe these successes point to an incredible future for the project. And the current price is the best price to join in and rake in massive returns as Pikamoon gets tipped to deliver another 10,000% rise before the year ends.
To join this imminent massive profit delivery, buy $PIKA now.
Find out more about Pikamoon (PIKA):
Buy Now: https://pikamoon.io/buy
Website: https://pikamoon.io
Twitter: https://twitter.com/Pikamooncoin
Telegram: https://t.me/pikamoonofficial
The post Possible FTX Solana Selloff Causes a Fall in SOL’s Price as Investors Seek Refuge in Rival Meme Coin appeared first on Analytics Insight.
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