Solana (SOL) Skyrockets 11% in Single Day: FTX Estate Initiates Third Sale Round

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Solana's SOL token has experienced an 11% surge, coinciding with the third round of the FTX estate's SOL sale.

The token's market cap has increased by 9.14%, reaching $59.4B and solidifying its position as the fifth-largest cryptocurrency.

Despite a broader market downturn, SOL's rise suggests a possible continuation of its bullish trend.

As FTX's third SOL auction moves 1.8M tokens, Solana's SOL token surges 11%, reaching a $59.4B market cap. Amid a broader market downturn, SOL's rise may indicate a continued bullish trend.

SOL Token Surges Amid FTX Sale

Solana's SOL token has experienced an 11% increase in the last 24 hours, coinciding with the commencement of round three of the FTX estate's SOL sale. 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. This rise occurs as the broader cryptocurrency market sees a downturn, highlighted by Bitcoin falling below the $58,000 mark.

FTX's Third SOL Auction Nets $232M

The ongoing disposal of SOL tokens by the FTX Estate 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. Bids between $85 and $110 per token in this round were mostly successful, while th... Read the full article for FREE at COINOTAG!