The Solana price is facing selling pressure as FTX and Alameda offloaded $450 million worth of SOL onto Binance. The move has sparked fears of a potential correction. As a result, investors are scrambling for alternatives and seeking safer, more promising assets.
Many investors are looking elsewhere to hedge their portfolios against further volatility with coins like Remittix (RTX). This is a fast-rising altcoin that is redefining the crypto-to-fiat payments space. With over 16k holders and $13.4 million raised in its ongoing presale, RTX could be a good crypto to buy.
$450M SOL Sent To Binance, Solana Price To Drop?
After a recent uptick to $178 on March 3, the Solana price has dropped to the $140-$150 range. CoinMarketCap data indicates the Solana price has dipped by 14.1% on the biweekly chart. However, it is up 6.4% on the weekly chart, making it one of the top gainers.
Solana price chart showing resurgence: TradingView
Meanwhile, the recent Solana price correction comes after reports from MerlijnTrader revealed that FTX and Alameda have sent about 430 million to Binance. This move could tank the Solana price if they should sell.
In addition to the 450 million transfer, the ongoing tariff war between the US and China, Mexico, and Canada has affected investors’ sentiment. Many fear the many top crypto coins could see more declines in the coming days.
However, the US Crypto Summit meeting on Friday has brought some positive sentiment to the market. Analysts expect the Trump administration to relax tariffs against Mexico and Canada, a stance that could benefit the crypto market.
In the meantime, technical indicators like the Keltner Channel suggest the Solana price is still bearish with the middle line at $161.88 as a resistance level. A move above this level could lead to a further upward movement to the upper channel at $198.29. On the flip side, a long consolidation or downtrend could occur if the Solana price doesn’t clear this resistance level.
Remittix (RTX) Predicted To Rise 20x, Attracts SOL Investors
While uncertainty clouds the Solana price trajectory, Remittix (RTX) is gaining attention from investors. It is a leading player in the cross-border payments sector, and it has made great strides in its cryptocurrency ICO. The platform has been able to secure over $13.4 million in funding and is priced at $0.0694. Its price is expected to rise by 20x this year, making it one of the top altcoins to watch.
The RTX coin is the core of Remittix’s economy which is used for staking, voting, and rewards. The token has a maximum supply of 1.5 billion to ensure that the token becomes scarce and could increase in value as more people adopt the platform.
The platform offers the PayFi system that allows users to convert more than 40 cryptocurrencies to fiat money and make direct transfers to bank accounts. This is especially helpful for individuals who engage in cross-border transactions, as it provides a convenient and hassle-free way of making transactions for both personal and business purposes.
For businesses, Remittix has the Remittix Pay API enabling organizations to accept cryptocurrency payments with cash out in fiat. This feature expands the payment possibilities without forcing businesses to deal with cryptocurrencies, which increases their customer base and improves their financial freedom.
Furthermore, Remittix also takes security and privacy seriously. Funds are received by the recipient’s bank accounts as regular bank transfers, thus, no links to cryptocurrencies are visible. It has been especially appreciated by users who are interested in implementing blockchain technology in their business while keeping their operations private.
Solana Investors Jump To This New DeFi Coin
The massive SOL transfer by FTX and Alameda has shaken the confidence of many investors, forcing them to rethink their strategies. While Solana remains a dominant force in the DeFi space, the uncertainty surrounding these transactions has led to a surge of interest in promising altcoins like Remittix. As its presale continues to gain momentum, those who position themselves early could be looking at exponential gains once it hits major exchanges in 2025.
Join the Remittix (RTX) presale and community:
Join Remittix (RTX) Presale
Join the Remittix (RTX) Community
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Source: https://cryptodaily.co.uk/2025/03/ftx-and-alameda-send-450m-sol-to-binance-solana-holders-are-hedging-with-this-top-altcoin