The price of Solana (SOL) has surged 26% over the past week, outperforming most major cryptocurrencies as it breaks key resistance levels. This latest rally comes despite initial fears that SOL tokens could be dumped en masse by bankrupt crypto exchange FTX.
Keypoints
- Solana (SOL) price has rallied 26% over the past week, defying fears of potential selling by the FTX bankruptcy estate.
- SOL gained 11% on Friday, reaching $29. It has outperformed most major cryptos over the past week.
- Concerns over FTX subsidiary Alameda Research dumping its SOL holdings proved overblown so far.
- Alameda’s recent staking of 5.5 million SOL worth $122 million helped calm market worries about mass selling.
- SOL saw massive inflows into investment products, with $24 million entering last week according to CoinShares.
- Network activity on Solana blockchain increased recently, signaling growing adoption and usage.
- A recent Solana upgrade also…
