Solana (SOL), which is a favorite of some and is not valued by others, but continues to be popular, has been talked about with its recent performance.
After the FTX crash, Solana, which was the favorite of Sam Bankman-Fried, the CEO of the exchange, and also had a large investment, fell to approximately $ 8 in a truly surprising collapse.
However, Solana has recovered well from its crash over the last month and is now trading even higher than before the FTX crash. SOL has seen a 150% increase in the last month.
With this latest rally, the price of the altcoin rose above $ 54 for the first time since May 2022. The FTX crash occurred in November 2022. The latest rally occurred despite the selling pressure of SOL, which is worth over $1 billion under the control of FTX's new management.
Cryptocurrency analysis company Santiment evaluated the recent rise in the SOL coin. According to analysts, mentions of SOL on social media platforms have peaked again and the mainstream community is now aware that SOL is diverging from the prices of other assets.
Additionally, Santiment analysts said SOL's funding rates are high but not yet in the “danger zone.”
*This is not investment advice.