Solana’s Sol Token is prepared for a possible price change of almost 6% after some large investors, or whales, left their holdings ahead of the non -agricultural payroll (PFN) report of the United States that expire later on Friday.
This estimate comes from the implicit volatility index of Volmex (IV) for sun. At the time of publication, the index showed an annualized day reading at 109.70%, indicating an expected price volatility of 24 hours of 5.74%. (The daily figure is derived by dividing the annualized volatility by the square root of 365, the number of negotiation days in a year).
A movement of that size represents moderate volatility, especially considering that cryptocurrency has experienced several days of 6% or more volatility since the beginning of March, according to Coindesk data.
In other words, the market is likely to be volatile, but nothing out of the ordinary.
Whale selling
Data tracked by blockchain Sleuth Lookonchain shows several whales without asition and used in a value worth $ 46.3 million in the market.
The great discharge of whales of whales often leads to a bearish price action. However, the amount sold today is equivalent to 0.97% of the 24 -hour negotiation volume of the $ 4.7 billion cryptocurrency.
Therefore, it is not surprising that Sol is changing little changed to around $ 116, since it printed a minimum of $ 112 on Thursday. In general terms, the cryptocurrency has been in a bearish trend since it reached a maximum of $ 295 on January 19.
Pay off the payroll
It is forecast that US jobs data, scheduled for the launch at 12:30 GMT, will reveal that the economy added 130,000 jobs in March, deceleration of February 151,000 and well below the 12 months of 12 months of 162,300, according to Factset.
The medium estimation of the unemployment rate for March is 4.2%, the highest since November and above the reading of 4.1% in February. It is forecast that the average earnings per hour have increased 0.3% month by month, coinciding with the February rhythm.
A weaker figure of what is expected will probably validate renewed prices for four interest rate cuts of 25 base points this year, which can send risk assets, including cryptocurrencies, higher.
