Solana's Native Token SOL Rallies 20% in 24 Hours, Erases Yearly Losses

Bitget App

Trade smarter

Cointime2023/11/10 20:06

By:Cointime

Solana's native token SOL has experienced a 20% surge in the past 24 hours, extending its three-week upward trend that has wiped out its yearly losses. The token is currently trading at around $54, a level it last reached in the aftermath of Terra Luna's market collapse in May 2022. Despite concerns over FTX Group's actions, a major holder of the SOL token, SOL's price has risen following Solana's annual conference. The increase in price could benefit FTX's creditors, but it remains to be seen if SOL can maintain this level for years, as much of FTX's SOL holdings are locked up until 2027 or later.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.

APR up to 10%. Always on, always get airdrop.

Lock now!

Business intelligence firm and corporate bitcoin holder MicroStrategy purchased another 55,500 BTC for $5.4 billion between Nov. 18 and Nov. 24, according to an 8-K filing with the SEC on Monday.Axie Infinity crypto game developer Sky Mavis is laying off 21% of its workforce, affecting about 50 of its 250 global team, amid a “shift in priorities,” according to CEO and co-founder Trung Nguyen.Solana’s decentralized exchanges surpassed $100 billion in monthly trading volume for the first time, generating a r

The Block•2024/11/25 21:23

Justin Sun's Tron buys $30 million of Trump-backed World Liberty Financial tokens

Tron founder Justin Sun said his firm has bought $30 million worth of World Liberty Financial tokens, the crypto project supported by newly-elected U.S. President Donald Trump.Sun said the purchase made Tron the largest investor in World Liberty Financial.

The Block•2024/11/25 21:23