Solana's SOL Token Jumps 20% as Investor Optimism Returns and Institutional Interest Grows
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Solana's SOL token jumped 20% in 24 hours, crossing $63. Trading volumes spiked over 70% to $3.5 billion.
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Optimism returned after end of Sam Bankman-Fried's trial. He was a big SOL backer.
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FTX wallets linked to debtors have sold $102 million in SOL tokens to exchanges recently.
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Institutional investments into SOL may have increased based on Grayscale Solana Trust premium.
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Cathie Wood said Solana may be better bet than Ethereum due to speed and costs.