Solana Could Be in Trouble as $340 Million SOL Unlock Looms on the Horizon

Solana investors are concerned as they face an impending unlock of $340 million worth of SOL tokens. With that many new tokens entering circulation, investors are concerned about increased selling pressure on Solana, which could drive the price down in an already volatile market.

Meanwhile, the new ETFSwap (ETFS) presale has drawn in more investors as Solana records outflows. This trend could indicate a shift from current volatile conditions on the altcoin to a more promising opportunity in ETFSwap (ETFS).

Investors Panic As Data Suggests Potential Sell-Off On Solana 

Data from TokenUnlocks suggests that Solana is set for the biggest altcoin token issuance of the month, which could significantly impact its price. The upcoming $340 million token unlock has triggered a shift in Solana’s price action, causing traders and investors to pull back from the altcoin.

Crypto analyst Wazz Crypto believes that the token unlocks have become aggressive over time, leading to accelerated sell-offs as holders realize that there is little demand for the continuously mined tokens.

Although Solana bounced back to $161 from its lows of $112 caused by market-wide price dumps on August 5, the altcoin appears to remain on a bearish trend. Following $182 million recorded outflows on Solana, according to data from Coinglass, the altcoin has experienced $77 million in outflows since August 12.

This data indicates the risk-averse approach by crypto investors in August, following the huge bearish hit at the beginning of the month. As of this writing, Solana (SOL) is trading at $144, showing more than a 20% price decline from its monthly high of $185.

Experts believe that the upcoming $340 million worth of SOL tokens further aggravates investment sentiment, which could only be restored if Bitcoin (BTC) leads a market recovery. That being, Solana investors are making a quick shift to ETFSwap (ETFS) in pursuit of profit.

ETFSwap (ETFS) Poised As New Market Favorite For Huge Returns

Crypto enthusiasts and experts alike have favored the new ETFSwap (ETFS) for its prospects despite current market conditions. The emerging blockchain platform is currently on presale, enabling early investors to get in for cheap ahead of the projected growth as a result of its innovative blockchain solution.

ETFSwap (ETFS) emerges as an Ethereum-based platform trading and investing in tokenized ETFs. These tokenized assets will be backed by ETF securities across various sectors purchased on the traditional market. Leveraging the Ethereum blockchain for improved security, transparency, and efficient trading, the new ETF trading platform is poised to drive the future of DeFi.

More so, ETFSwap (ETFS) captures the best of both centralized and decentralized markets, resulting in an ETF platform that favors investors from both markets. The new ETF trading platform offers crypto-compatibility and decentralized trading, which is a preferable feature for crypto investors. On the other hand, ETF investors who usually trade on traditional platforms can also benefit from the new features.

Some of these include fast ETF settlements even outside of trading hours, 24/7 market coverage, easier access to liquidity via lending, crypto-to-ETF swaps, staking yields for passive income, lower trading costs, and many more. ETFSwap (ETFS) combines on-chain accessibility, variable investment conversion, and anonymity on a seamless, user-friendly platform.

This platform will be available to interact with on the beta launch in a few weeks. The ETFSwap (ETFS) team has completed KYC verification by SolidProof, and the contract has gone live on the mainnet, preparing for a massive launch.

Conclusion

The bearish sentiment on Solana has led market momentum to the new ETFSwap (ETFS), which looks quite promising. Experts have predicted a potential 40,000% move on the presale token amid exciting prospects for real-world assets and ETF assets. 

Join the future of trading and buy ETFSwap (ETFS) on presale for $0.01831 before the price rises to $0.03846.

For more information about the ETFS Presale:

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