Solana's SOL Token Surges to 2023 High Despite Ongoing FTX Sales
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Solana's SOL token surged 22% on Nov. 10 to over $54, hitting a new 2023 high despite ongoing FTX bankruptcy sales.
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Investors grew optimistic as token sale limits reduced fears of excessive liquidations. Only $100M can be sold weekly.
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SOL price has shown resilience, holding up well despite constant selling pressure from FTX bankruptcy proceedings.
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Bullish momentum driven by solid demand for leverage longs in futures markets and growing ecosystem activity.
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Metrics like TVL, active addresses, and DApp usage are reversing downward trends, signaling potential recovery.