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<ul class="news-points">
 <li>SOL token surges 11%, reaching a $59.4B market cap amid FTX sale.</li>
 <li>FTX’s third SOL auction moves 1.8M tokens, nets $232M.</li>
 <li>Technical indicators suggest SOL may continue a bullish trend.</li>
</ul>
Solana’s SOL token has experienced over 11% increase in the last 24 hours, coinciding with the commencement of round three of the FTX estate’s SOL sale. Additionally, its market cap has surged by 9.14% today, reaching $59,414,082,134 and securing its position as the fifth-largest cryptocurrency by market cap.&nbsp;
<figure class="wp-block-image"><img decoding="async" src="https://lh7-us.googleusercontent.com/h8HZ1AmS5oFWslT_Fl4U0BoG8Tzed1jV5or1WHk8xVq5FXdaZZLUcrlAcBAthuf7PJsQTVFAfuwgdiE-iu-pZ8cT6QLWbTZLhg8r2YLSgQlR9ZTDFwx2wp3q8F2Tb5mmpV4rjWx_2qTnvMuQms6ZuUU" alt="">
</figure>
SOL/USD 24-Hour Chart (Source: <a href="https://coinstats.app/coins/solana/" target="_blank" rel="noopener noreferrer nofollow">CoinStats</a>)
This rise occurs as the broader cryptocurrency market sees a downturn, highlighted by Bitcoin falling below the $58,000 mark, testing the Bull Market Support Band Indicator. The commencement of the sale follows the successful conclusion of the previous auction, which involved locked SOL tokens.
<h2 class="wp-block-heading" id="h-ftx-estate-initiates-third-sol-token-auction">FTX Estate Initiates Third SOL Token Auction</h2>
FTX Estate’s ongoing disposal of SOL tokens has reached its third phase starting May 1. The recent auction, which concluded the sale of 1.8 million SOL tokens, garnered approximately $232 million for the estate’s liquidators.
According to the Block, bids between $85 and $110 per to…
The post <a href="https://coinedition.com/solanas-sol-jumps-11-in-a-day-as-ftx-estate-kicks-off-third-sale-round/" rel="noopener noreferrer nofollow">Solana’s SOL Jumps 11% in a Day as FTX Estate Kicks Off Third Sale Round</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Solana’s SOL Jumps 11% in a Day as FTX Estate Kicks Off Third Sale Round

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