The Great Solana Escape: FTX Unstakes 190K SOL as the World Turns

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In the shadowed corridors of modern finance, where greed and folly dance a tragic waltz, a wallet long tethered to the fallen empire of FTX and its so-called trading arm, Alameda Research, decided to free itself. Yes, a bold move-190,821 Solana, worth a substantial sum of $35.52 million-slipped away like a thief in the night, right when Solana, like a phoenix, begins to ascend from the ashes of its recent cocoon.

One must marvel at the irony, dear reader. As the wreckage of FTX’s bankruptcy unfurled before the eyes of the world-liquidating assets, returning scant scraps to creditors-a torrent of tokens was unleashed into the ether, fueling rumors and speculation. Were these tokens to find refuge in the safe custody of BitGo? Or perhaps they would be handed over directly to creditors, as if to soothe the wounds of betrayal?

Meanwhile, FTX and Alameda, amidst their chaos, still cling tightly to over 4.34 million SOL-nearly 800 million dollars in the bank of delusion-locked away in staking, like prisoners who refuse to admit defeat.

Just three hours ago, the whispers revealed: 190,821 SOL unstaked, overshadowing the silence of bankruptcy. Yet, they hold 4,344,676 SOL-worth almost a billion dollars-in shadows. – Onchain Lens (@OnchainLens) August 11, 2025

Solana Breaks Free – Quite Literally

And lo, what is this? The timing is impeccable, or perhaps purely coincidental, but Solana-like a champion breaking free from a long, torturous “cup & handle” pattern, a holdover since late 2021-now stands on the cusp of greater things. At present, SOL dances around $184, flashing an impressive +12% in just a week-enough to make even the most hardened trader crack a smile, or perhaps a grimace.

Analyst Ali Martinez, with the seriousness of a prophet and the humor of a jester, foresees a rally to $1,315-more than sixfold the present value. A dream, perhaps, but in the casino of crypto, dreams often become the currency of the bold.

Solana $SOL targets $1,315 after breaking out of a textbook cup & handle pattern! – Ali (@ali_charts) August 9, 2025

Not merely a pretty face on charts, Solana also chips away at its limitations. The recent proposal, SIMD-0286, aims to boost transaction throughput and smart contract capacity-because, of course, there’s always room for more. Last month, capacity increased by 20%, and more upgrades are promised before the year’s end, as if to outdo itself in the engineering Olympics.

This scalability and efficiency have transformed Solana into a favored playground-from the lofty realms of DeFi to meme coins that make us laugh and cry all at once.

Could SOL Beat $200? Oh, It’s Very Possible

The daily chart whispers tales of moderate bullish momentum-RSI says, “keep calm and carry on,” but the Bollinger Bands suggest the price is trading near the upper limit, hungry for a breakout.

SOL price chart with RSI and Bollinger Bands | Source: Trading View

If the stars align and resistance at $195 is broken, the next stop could be $200 or even $210-because why not dream big? But beware the rejection that could send SOL tumbling back to $176, with support lurking at $158, like a frightened friend in a crowded room.

Despite being 37% below its January high of $294, traders are whispering hopes and visions-perhaps foolhardy, perhaps brave-convinced that many catalysts are aligning for a grand resurgence.

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2025-08-11 20:07