CryptoBitcoin3 Reasons Why the Price of Solana (SOL) Is Up This Week

3 Reasons Why the Price of Solana (SOL) Is Up This Week

The price of Solana’s SOL (SOL) experienced a 20% gain between Sept. 28 and Oct. 6, but is the rally a tandem move with Bitcoin (BTC), or is it being driven by other factors? Prior to the price breakout — or perhaps, its recovery — SOL faced a turbulent period after a U.S. court approved the sale of $1.3 billion in SOL from the bankrupt exchange FTX.

The bankruptcy court has taken measures to ensure that the liquidation of FTX assets won’t become a burden for the crypto market, demanding the sale to occur through an investment adviser in weekly batches in accordance with preestablished rules.

Share This Post

Andrew
Andrew
Self-taught investor with over 5 years of financial trading experience Author of numerous articles for hedge funds with over $5 billion in cumulative AUM and Worked with several global financial institutions. After finding success using his financial acumen to build an investment portfolio, Andrew began writing and editing articles about the cryptocurrency space for sites such as chaincryptocoins.com, ensuring readers were kept up to date on hot topics such as Bitcoin and The latest news on digital currencies and Ethereum.

Related Posts

What is the Highest Level of Bitcoin?

Bitcoin, since its inception in 2009, has risen from...

What is Bitcoin Level 2?

Bitcoin, the pioneer of cryptocurrencies, has revolutionized the financial...

Kaito Price Soars 26% Following Upbit Listing Amid Growing Exchange Presence

Kaito (KAITO) experienced a notable 26% surge in value,...

Ethereum’s Pectra Upgrade Faces Bugs but Developers Resolve Issues on Testnets

Ethereum's highly anticipated Pectra upgrade, considered the most significant...

Trump’s Multi-Asset Crypto Reserve Plan Sparks Industry Debate

President Donald Trump’s announcement over the weekend that his...

Bitcoin Rebounds, Nasdaq Gains as Tariff Concerns Shift Markets

Bitcoin (BTC) surged nearly 10% on Tuesday, recovering from...