Posted 11/2/2023, 8:14:00 PM
Solana Soars Over 300% This Year But Rally Shows Signs of Slowing After 15% Drop From 14-Month High
- Solana price rallied over 300% this year after crashing in 2022, but recently dropped 15% from its 14-month high of $46.
- BitMex co-founder Arthur Hayes said he's been buying Solana during the rush higher.
- Institutional inflows to Solana funds and rising developer activity supported the uptrend.
- Signs like liquidations and wallet transfers suggest the rally may halt as FTX sells holdings.
- Solana TVL and November seasonality present headwinds, though ecosystem is showing signs of rejuvenation.