Solana’s native token, SOL (SOL), skilled a powerful 22% surge on Nov. 10, breaking previous the $54 mark for the primary time since Could 2022. Notably, this surge occurred amid the continual promoting of SOL tokens by FTX’s chapter property. The Delaware Chapter Court docket accepted the sale of the failed trade’s belongings, which included 55.75 million SOL, in September 2023.
Investor enthusiasm for SOL’s value improve could also be attributed to the truth that a number of the tokens from the chapter proceedings are both vested or locked. Moreover, there’s a weekly sale restrict of $100 million imposed as a part of the FTX liquidation plan. In essence, the preliminary worry of asset liquidation has reworked into hope as traders understand the restricted impression of the gross sales.
Proceed Studying on Cointelegraph
