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 <p class="is-style-lead">Coinciding with the crypto market’s newfound bull run, Solana (SOL) 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 (BTC) to an 18-month-high but also triggered massive <a rel="noopener noreferrer nofollow" title="gains" href="https://thebittimes.com/tag/gains.html">gains</a> for Solana, effectively pushing it over 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 Lookonchain 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>
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 <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 $SOL 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… pic.twitter.com/AtnTqz3uxG</p>— Bluntz (@Bluntz_Capital) November 9, 2023
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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>
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Why everyone is talking about Solana in 2023
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/solana-gains-over-175-despite-ongoing-ftx-troubles-tbt69971.html">https://thebittimes.com/solana-gains-over-175-despite-ongoing-ftx-troubles-tbt69971.html</a></p>

Solana gains over 175% despite ongoing FTX troubles

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