- Transfer of mSOL: Latest Updates
- Marinade Staked SOL Market Overview
- Impact on Current Trading Patterns
The latest revelation about a significant transfer of mSOL from an FTX wallet to Coinbase Prime has triggered discussions among crypto enthusiasts about its market impact. Here is what we know right now.
Transfer of mSOL: Latest Updates
The news of the substantial move was revealed by Lookonchain on social network X. According to the post, 240,247 mSOL, worth at least $46.09 million, were transferred from an FTX wallet to Coinbase Prime.
Marinade Staked SOL Market Overview
The current price of mSOL is around $186.48. In the last 24 hours, it has fallen by 4.0%. Conversely, it has seen a positive change of 5.7% in the last seven days and a change of +6.6% in the last fourteen days. At the beginning of August 2024, the price was nearly $207.65, later slipping to $156.48 on August 5th, indicating increasing seller strength. Following days saw a resurgence in buyer activity, closing the market with slight dominance of buyers.
Impact on Current Trading Patterns
Many in the crypto community view this transfer as a strategic move by the FTX team. A user identified as MemcoinBest — Solana & Aptos Maxi heightened the discourse about the impact of this transaction on current trading patterns.
The situation with the large mSOL transfer has the potential to positively affect the market in the future, but currently, this is not evident. Traders and analysts continue to monitor developments and their potential impact.
Comments