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<p class="is-style-lead">Coinciding with the crypto market’s newfound bull run, Solana (<a href="https://crypto.news/price/solana/">SOL</a>) has made significant strides, rising by over 175% in the last 30 days.</p> 
<p>The recent crypto market upturn has not only propelled Bitcoin (<a href="https://crypto.news/bitcoin-price/">BTC</a>) to an 18-month-high but also triggered massive gains for Solana, effectively pushing it <a href="https://crypto.news/solana-breaks-20b-market-cap-as-etf-buzz-fuels-bitcoin-over-37k/">ove</a>r the $20 billion market cap milestone.&nbsp;</p> 
<h2 class="wp-block-heading" id="ftx-wallets-unstake-160m-in-sol">FTX wallets unstake $160M in SOL</h2> 
<p>Recently, analysts at <a href="https://twitter.com/lookonchain/status/1721424550368608406?t=sHJk4-EDTCysO-mXiiAf7g&amp;s=19" target="_blank" rel="noopener">Lookonchain</a> reported a substantial unstaking of $160 million worth of SOL from FTX-linked wallets. This move resulted in a dip in the price of Solana’s native SOL token, dropping to around $40, before orchestrating a recovery. Despite this significant unstaking event, Solana’s price is still holding strong. </p> 
<p> You might also like: <a href="https://crypto.news/solana-trading-volume-surges-amidst-market-rally/"> Solana trading volume surges amidst market rally </a> </p> 
<p>Popular crypto trader, Bluntz, observed a consistent selling pattern by FTX, ranging between 250k-700k SOL daily for the past two weeks. Surprisingly, this selling pressure hasn’t deterred SOL’s price, suggesting a robust absorption capacity. The analyst anticipates a further Solana price surge once this selling pressure subsides.</p> 
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   <p lang="en" dir="ltr">FTX has been selling between 250k-700k <a href="https://twitter.com/search?q=%24SOL&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$SOL</a> every day for the last 2 weeks while price has either been going up or sideways.<br><br>so far its been getting absorbed like a champ and at current rate their unlocked tokens should be depleted within a week.<br><br>once this seller is gone i can… <a href="https://t.co/AtnTqz3uxG" target="_blank">pic.twitter.com/AtnTqz3uxG</a></p>— Bluntz (@Bluntz_Capital) <a href="https://twitter.com/Bluntz_Capital/status/1722414938768146583?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">November 9, 2023</a>
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<h3 class="wp-block-heading" id="solana-price-analysis">Solana price analysis</h3> 
<p>The latest data from CoinGecko shows Solana exchanging hands for $60.39, representing a 183% increase over the past 30 days. </p> 
<p>With a circulating supply of 420 million SOL, its market cap stands at $25.2 billion. </p> 
<p>Solana’s exceptional growth in 2023 positions it among the top three layer-1 blockchains, challenging Ethereum and Binance Chain with its unique technology and growing user base.</p> 
<p>The journey of Solana in 2023 showcases a compelling narrative of growth, overcoming market challenges, and demonstrating resilience.</p> 
<p> Read more: <a href="https://crypto.news/why-everyone-is-talking-about-solana-in-2023/"> Why everyone is talking about Solana in 2023 </a> </p>

Solana gains over 175% despite ongoing FTX troubles

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