Solana stablecoin positioning threatens ‘extreme’ SOL volatility
Stablecoin volatility and the incoming FTX repayments may further limit Solana’s price action as traders await the outcome of a key technical chart pattern.
Investors’ stablecoin positioning on the Solana network and a key technical chart pattern threaten more volatility for the Solana token, which may see a decisive moment for its price action.
Solana’s transport layer saw “extreme” volatility in trading the Tether’s USDt (USDT) stablecoin, which may indicate that traders are repositioning in search of new investment opportunities.
USDT trading on Solana’s transport layer saw an over 137% surge during the last week of February, after seeing a 61% plunge during the previous week, according to a report by global payments infrastructure platform Mercuryo, shared with Cointelegraph.
