The huge increase in the price of SOL can be ascribed to the significant advancement of BlackRock’s application for an Ethereum exchange-traded fund (ETF). This observation signifies an increasing acknowledgment and approval of assets built on the Ethereum platform, which in turn contributes to the favorable trajectory of the overall cryptocurrency market and has a specific influence on the performance of Solana.<\/p>\n
Solana: Navigating The FTX Liquidation Wave And Post-Conference Surge<\/strong><\/h2>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\nIn particular, this upsurge also transpired during the ongoing liquidation of SOL tokens by the bankruptcy estate of FTX. Just this September, the Delaware Bankruptcy Court granted approval for the disposal of the assets of the defunct exchange, comprising 55.75 million SOL.<\/p>\n
Following its annual conference, Solana saw an impressive price spike that demonstrated its durability in the face of uncertainty surrounding FTX Group, a major SOL token holder that is currently experiencing financial turmoil.<\/p>\n
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SOL market cap at $22.7 billion on the weekend chart: TradingView.com<\/a><\/pre>\nSOL’s increasing trajectory<\/a> looks to favor FTX creditors notwithstanding FTX’s contradictory declarations regarding its investment. SOL’s current trading range may be able to recover the losses incurred by FTX exchange users, according to Thomas Braziel, CEO of 117 Partners.<\/p>\nThe Founder of FTX Group, Sam Bankman-Fried, is facing legal action for allegedly embezzling client monies, which is why this is happening.<\/p>\n
Solana Enjoys Sustained Upward Trajectory\u00a0<\/strong><\/h2>\nMeanwhile, Jacob Canfield, a well-known figure in the realm of cryptocurrency trading, has provided an analysis elucidating his belief in the continued upward trajectory of the Solana price surge. Canfield expressed his belief that Solana is poised to maintain its position as one of the most influential entities in the ongoing bull market cycle.<\/p>\n
\nIn my opinion, I think that @Solana<\/a> is going to continue to be one of the biggest movers during this current bull market cycle and I’m going to lay out some ideas for you.<\/p>\nIt’s possible that with the Ethereum ETF news that some of these ideas don’t play out, but it’s worth\u2026 pic.twitter.com\/oii8vWs0W9<\/a><\/p>\n
SOL’s increasing trajectory<\/a> looks to favor FTX creditors notwithstanding FTX’s contradictory declarations regarding its investment. SOL’s current trading range may be able to recover the losses incurred by FTX exchange users, according to Thomas Braziel, CEO of 117 Partners.<\/p>\n The Founder of FTX Group, Sam Bankman-Fried, is facing legal action for allegedly embezzling client monies, which is why this is happening.<\/p>\n Meanwhile, Jacob Canfield, a well-known figure in the realm of cryptocurrency trading, has provided an analysis elucidating his belief in the continued upward trajectory of the Solana price surge. Canfield expressed his belief that Solana is poised to maintain its position as one of the most influential entities in the ongoing bull market cycle.<\/p>\n In my opinion, I think that @Solana<\/a> is going to continue to be one of the biggest movers during this current bull market cycle and I’m going to lay out some ideas for you.<\/p>\n It’s possible that with the Ethereum ETF news that some of these ideas don’t play out, but it’s worth\u2026 pic.twitter.com\/oii8vWs0W9<\/a><\/p>\nSolana Enjoys Sustained Upward Trajectory\u00a0<\/strong><\/h2>\n
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