Solana’s Rally Marshalled by Buyers From Coinbase, Data Shows
SOL has gained over 50% in two weeks with buyers from Coinbase playing a major role in powering the cryptocurrency higher.
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Solana
SOL has gained over 50% in two weeks with buyers from Coinbase playing a major role in powering the cryptocurrency higher.
Solana’s [SOL] spectacular comeback – up over 300% this year – has captivated crypto market participants after being one of the most beaten-down assets during the bear market.
The value of FTX’s stake in Solana’s SOL token, for instance, has just added $1 billion in two weeks.
Ether-based funds continue to fall out of favor, with outflows for the year now totaling $125 million.
“I believed the funds came from Alameda’s operating profits” as well as third-party lenders, he testified Friday at his fraud and conspiracy trial.
Bitcoin-based products have increased their market share to 73.3% from 70.5% amid optimism over the possible approval of a spot-price exchange-traded fund.
The debtor group in control of FTX assets has conducted various on-chain transactions in the past few weeks.
Solana’s largest decentralized finance (DeFi) protocol, Marinade Finance, has blocked users in the United Kingdom from accessing the site due to “compliance concerns” over Financial Conduct Authority (FCA) regulations.
Solana (SOL) jumped 11% Friday, and is one of the best performing crypto assets this year with a 170% gain.