It has been 1.5 years since the FTX events in November 2022, which triggered a complete destruction in the cryptocurrency markets at that time. Many developments have occurred regarding Sam Bankman-Fried and the FTX process since then. Most recently, a court ruling about SBF was issued, shedding light on the events. Additionally, it was indicated that the previously anticipated recovery of the FTX exchange would not be pursued, and the process was thus concluded. Just moments ago, a massive purchase of cryptocurrencies owned by FTX was made.
Purchase of Solana Executed
Today, in the early hours, a series of moves by the giant firm Pantera Capital kept the cryptocurrency world busy. The second of these events particularly concerned Solana investors.
The world-famous Pantera Capital, purchased a total of 2,000 Solana from the bankrupt exchange FTX. There were many rumors regarding the refund process of investor funds held by FTX.
One of these rumors heavily occupied the market, which involved the pricing at which FTX would make the refunds. The prices set by FTX drove investors furious.
It was also discussed that the exchange, which had previously attempted several recovery initiatives, had abandoned these efforts. What developments will occur in the future is already a subject of curiosity.
How Much is Solana Now?
While all this was happening, the market’s attention turned to the price of Solana (SOL). Following the purchase, the price of Solana, as of writing, rose by 0.3% in the last 24 hours to $148.32.
On the other hand, the market cap of Solana saw a 1% decrease, positioning just above the $66 billion level, which ranks it fifth in the market, right behind BNB.
Meanwhile, the 24-hour trading volume decreased by 3% to $3.7 billion, suggesting that investors were reluctant to sell their SOL holdings in a declining market.
After dropping to $8 at the beginning of 2023, Solana faced predictions of its demise. By the end of 2023, its value exceeding $100 transformed its appearance dramatically.
Subsequently, SOL’s price not only recovered but soared above $200, providing its long-awaiting investors with a true celebration atmosphere.
