US$3.4 billion in assets are facing sell-off, and SOL is once again experiencing storms

In the latest news, a judge in the U.S. Bankruptcy Court in Delaware ruled on Wednesday that cryptocurrency exchange FTX can sell and invest its cryptocurrency holdings to repay creditors.
During a court hearing, Judge John Dorsey said he granted the motion and dismissed two objections to the plan. This allowed the bankrupt exchange to sell, pledge and hedge its cryptocurrency holdings, which were said to be worth more than $3.4 billion. By collecting data, Medal found that FTX held a total of $3.4 billion in crypto assets, mainly including $1.16 billion SOL, $560 million BTC, $192 million ETH, $137 million APT, $120 million USDT, and $119 million XRP , $49 million BIT, $46 million STG, $41 million WBTC and $37 million WETH. These ten major assets account for 72% of the crypto assets compiled by FTX.
Here, SOL has the largest number of tokens, accounting for about 16% of the token's circulation. It accounts for a huge proportion. It is likely to cause SOL's long-term price depression and decline. It will take 3-6 months to digest. Even before the decline, it may be tempting to buy. To pull up, it is still recommended that currency friends holding SOL positions exit or change positions. For the market, 560 million US dollars of BTC are about 21,000, which is not too large. The decline will not take too long and can be digested in two or three weeks.