Cryptocurrencies Price Prediction: Solana, Chainlink & Bitcoin – European Wrap 11 September

Solana price crash and FTX hearing: A complete rundown

Solana price has crashed on several occasions in the past week as traders await a ruling on FTX exchange’s plan to convert its crypto assets to fiat. The court hearing of FTX’s August 23 motion is, therefore, key to the SOL community of holders.

SOL price dropped 8% over the weekend as traders feared a mass sell-off of the altcoin by FTX’s estate. On September 10, Solana price declined nearly 6% as market participants feared a sell-off by FTX’s estate. Based on the data from Solscan, the value of all three publicly available FTX cold storage wallets is $1.5 billion on the Solana blockchain.

Chainlink price in slump, whales buy the dip with $24 million in LINK tokens

Chainlink price is in a downward trend that started in July. While the successful completion of interbank messaging giant Swift’s experimentation with Chainlink acted as a catalyst for the asset, it drove social volume and sentiment higher among traders rather than LINK price.

LINK whales holding between 10,000 and 1,000,000 Chainlink tokens bought the recent dip in the asset, anticipating a recovery in the altcoin’s price in the future. Chainlink’s large wallet investors holding between 10,000 and 1,000,000 LINK tokens have added $24 million worth of the asset to their portfolio in a ten-day timeframe.

SOL crashes ahead of FTX hearing, is BTC next?

Over the weekend, Vitalik Buterin’s Twitter was compromised, and SOL price faced a massive sell-off on rumors of the FTX bankruptcy hearing. This week, in particular, is extremely important due to a few things and is more than likely to induce volatility and move markets in the coming days.

Bitcoin price produced a weekly candlestick close below the June 12 low at $25,939, creating a lower low on the weekly time frame. This move signals an incoming downward move for BTC and reinforces the already bearish outlook.