Solana’s supply surge – Can the market absorb $340M in unlocks?

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SOL will see about $340M token unlocks in August amid a choppy market. Will SOL's price contain the extra supply?

] will lead August’s +$2 billion worth of token unlocks. Nearly $340 million of SOL tokens will hit its supply circulation. In fact, according to Token Unlocks, SOL will see the highest issuance in August, which could further impact prices amidst markets that have largely been choppy.“In my opinion, token unlocks will only get more predatory as time goes on. investors/team racing to dump as they realise that there’s really no demand for the infinite tokens being minted.

At the time of writing, speculators’ sentiment on SOL was neutral, as shown by the neutral reading of the weighted sentiment on Santiment.Nevertheless, this week, investors and traders have de-risked themselves from the altcoin, as shown by massive spot outflows.. In the previous week, the altcoin saw $182 million in outflows, reinforcing an overall risk-off approach from investors in August.The risk-off approach saw SOL drop from $185 in early August to below $150, at the time of writing.

Meanwhile, the weekly bullish order block , the higher timeframe support, and above $100 and $128 were key levels to assess for a better discount on SOL.Benjamin is a Telecommunication Engineering graduate who is passionate about crypto-markets and unraveling market trends. Armed with charts and patterns, he's interested in making the intricate, complex landscape of digital assets more palatable for every user.Subscribe to get it daily in your inbox.

 

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