FTX’s announcement regarding the commencement of the third tranche of the auction for locked Solana coins has injected optimism into the market amidst a broader sell-off.
Despite the recent bearish trend in Solana’s price, indicators such as the Relative Strength Index (RSI) and the Awesome Oscillator (AO) suggest underlying bullish sentiment.
Amid the broader market sell-off, Ethereum Layer-1 competitor Solana has also witnessed a sharp pullback dropping all the way to $120 levels earlier today. However, in another major announcement on Wednesday, May 1, bankrupt crypto exchange FTX announced that they would soon commence the third tranche of the auction for the locked Solana coins in their holding.
According to reports, the FTX liquidators managed to sell approximately 1.8 million SOL tokens in the second round, generating around $232 million over several weeks, per the Crypto News Flash report. Bids for the tokens ranged between $85 and $110 each, with those above $95 being pred

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