Why Bitcoin Gold And Solana Are Trading Lower Again

Bitcoin Gold (CRYPTO: BTG) and Solana (CRYPTO: SOL) are trading lower by some 3.30% to $14.45 and 4.55% to $15.42 Friday afternoon. Several altcoins are experiencing ongoing, marked weakness and trading lower after crypto exchange FTX commenced Chapter 11 proceedings.

Timeline of Bitcoin-gold, Solana

Solana price prediction: following the aggressive downfall, the Solana price tried to sustain above the $12 mark. Moreover, a Bullish reversal from the hints the buyers are wresting for a relief rally before continuing the prior downtrend.

Solana was up by as much as 20% on Friday, as the token rebounded following recent declines. The token which dropped by over 50% earlier in the week, surged today, as traders seemingly bought the dip earlier in the day. However, sentiment has since shifted following the news that FTX has declared bankruptcy.

After the FTX saga got yet another twist in the form of its CEO's resignation and the cryptocurrency exchange's bankruptcy filing, the crypto market is back to swimming in the red, leading experts and investors to try and ascertain where its assets like Solana (SOL) could be heading in the near future.

The Solana price analysis predicts a bullish trend for cryptocurrency today. Although the price was facing bearish resistance earlier, the bulls have managed to bring the price to $17.76 in the last 24 hours.

In the last 24 hours, the cryptocurrency market cap saw inflows of around $50 billion as the industry rose to $872.68 billion from $828.94 billion as of press time — up 5.26%. The post CryptoSlate Daily wMarket Update – Nov. 10: Solana leads US CPI induced market recovery appeared first on CryptoSlate.

Data from the Solana ($SOL) blockchain has revealed that a large whale is facing a potential liquidation of around $52 million worth of the cryptocurrency as its price tumbles over the collapse of the popular cryptocurrency trading platform FTX.

Solana's co-founder briefly comments on Solana's involvement in FTX Unlocking of staked tokens postponed as price witness slight uptick The SOL token started falling on 6 November, and while this might have been written off as a regular market movement at first, the decline has continued for more than two days.

Recently, former Goldman Sachs executive Raoul Pal has revealed that he sees the price of Solana ($SOL) as “very interesting” over the forced liquidations that led to increasing sell-offs in the cryptocurrency's price.

Solana price prediction is bearish; however, the closing of the daily candle above $11.50 is signaling chances of a bullish reversal. According to crypto influencer DrProfitCrypto, the Solana (SOL) team delayed the start of the staking unlock period by two days. However, token holders could still access and sell their SOL holdings.

Over US$520mln worth of Solana (SOL) was withdrawn by Solana's proof-of-stake (PoS) validators today, with a further US9.3mln already set for withdrawal at the next epoch due in two days. Staking is the process of validating the Solana blockchain network, and large-scale withdrawals cause two major problems.