- Solana has made an ambitious comeback, surpassing pre-FTX price levels.
- In the past week, SOL has seen a 31.40% price increase with significant trading volume growth.
- Solana’s efforts to expand its developer community and adoption have contributed to this rebound.
Solana has shaken off the impact of fallen crypto exchange FTX’s bankruptcy to surge to its highest price of the year so far. After hitting a low of $18.25 in September, SOL has climbed over 70% to now trade above $41.
Solana suffered disproportionately from FTX’s implosion last November, partly due to close ties between the two. FTX was recently approved to liquidate its massive crypto holdings, stoking fears of heavy SOL selling pressure.
Solana Made an Ambitious Comeback
Yet despite that overhang, SOL has mounted an ambitious comeback. SOL’s price now exceeds pre-FTX levels above $36, highlighting renewed momentum.
Over the past week alone, Solana has soared 31.40% amid triple-digit trading volume growth. Its strong rebound comes amid proactive efforts to expand Solana’s developer community and adoption.
Initiatives like hackathons and the launch of the blockchain-based Saga phone have reframed Solana as far more than just software infrastructure. The relentless bull run signals traders shrugging off FTX bankruptcy risks.
Whale and retail accumulation have likely provided tailwinds for Solana’s uphill price trajectory as well. With SOL reclaiming key levels, its technical picture looks decidedly more bullish.
By decisively breaking free of FTX links, SOL seems poised to challenge its all-time high around $260 as its ecosystem expands. The recent rally provides evidence that Solana may be turning the page on its FTX-related troubles.