Solana has gained a further 12% in the past day, reaching a 14-month high of $46. It appears to be on an unstoppable rally. By taking this action, Solana has recovered all of the damages that ensued from the demise of the cryptocurrency exchange FTX.
Price of SOL and FTX Unstaking
According to data from Spot on Chain, the bulls in the price of Solana (SOL) are still in control, even after cryptocurrency exchange FTX unstaked over 500K Solana tokens valued at an astounding $21 million.
With the most recent price increase, Solana has increased its gains to over 80% for the month. Additionally, with more than 350% increases year to date, Solana is currently outpacing all other top 10 cryptocurrencies.
It would be fascinating to watch if Solana can continue to hold above the $40 support level in order to initiate a move higher to $50. Conversely, the DeFi TVL located in Solana has also been doing admirably, with a respectable level of activity in the last several weeks.
SOL is rising significantly as the Solana project tries to break its link with the defunct former cryptocurrency tycoon Sam Bankman-Fried. Solana’s remarkable operational performance history—it experienced just one network outage in 2023 as opposed to 14 incidents the year before—has been credited with aiding in SOL’s ascent.
Solana together with AWS
Solana revealed a noteworthy development in blockchain accessibility and integration at Breakpoint 2023. Solana is pleased to announce that its nodes are now accessible on Amazon Web Services (AWS) via the Node Runner app.
With this news, Solana’s network will now be more widely available to companies and corporations worldwide, marking a significant advancement. Using AWS to access Solana’s nodes simplifies the deployment process.