– SOL (SOL) experienced a 22% surge, reaching its highest price since May 2022.
– The surge occurred despite the continuous selling of SOL tokens by FTX’s bankruptcy estate.
– Investor enthusiasm may be due to the limited impact of the token sales and the upcoming depletion of unlocked tokens.
– SOL’s resilience during the token dump is impressive, according to trader Bluntz.
– SOL’s futures open interest has reached its highest level since November 2021.
– The funding rate for leverage longs is currently at 0.5%, indicating bullish momentum.
– Growth in deposits and usage of DApps within the Solana ecosystem suggests a positive outlook.
– Solana’s total value locked (TVL) and DApps deposits have seen increases, indicating a potential recovery for the network.
– Solana now ranks as the fourth-largest blockchain in DeFi TVL, with a 28% growth in active addresses.
– SOL’s market capitalization has surpassed Polygon’s by nearly threefold, raising questions about sustainability.
– Solana’s accumulated 30-day fees are lower compared to BNB Chain, suggesting limited room for further upside.