Solana price goes up by 20% in 24 hours

Nov 13, 2023
Solana (SOL) price has been growing by 20% over the past 24 hours, continuing a three-week rise and gradually compensating for annual losses.

At the time of article publication, SOL price exceeds the $58 mark. The price rises immediately after the annual Solana conference, despite rumors about the sale of a significant share of SOL by the bankrupt FTX exchange.

FTX crypto exchange was one of the first major investors of Solana and regularly receives a significant amount of unlocked SOLS in accordance with the planned vesting schedule. According to the court, as of September 2023, the exchange owned assets worth more than $ 1.16 billion.

According to Thomas Braziel, CEO of 117 Partners, SOL is currently trading in a range that inspires confidence in investors.

Recall that the last time the cost of SOL reached such a high level was in May 2022 after the collapse of Terra LUNA.