Solana's Native Token SOL Rallies 20% in 24 Hours, Erases Yearly Losses
Solana's native token SOL has experienced a 20% surge in the past 24 hours, extending its three-week upward trend that has wiped out its yearly losses. The token is currently trading at around $54, a level it last reached in the aftermath of Terra Luna's market collapse in May 2022. Despite concerns over FTX Group's actions, a major holder of the SOL token, SOL's price has risen following Solana's annual conference. The increase in price could benefit FTX's creditors, but it remains to be seen if SOL can maintain this level for years, as much of FTX's SOL holdings are locked up until 2027 or later.
SOL breaks above $50
The market shows SOL has broken through $50 and is now trading at $50.02, with a daily increase of 7.29%. The market is volatile, so please manage your risks carefully.
SOL exceeded 48 USDT, with a 24-hour increase of 13.34%
According to the OKX market, SOL has broken through 48 USDT with a 24-hour increase of 13.34%, reaching a new high since August 2022.
FTX address once again transferred 250,000 SOL to Binance
According to Pai Shield monitoring, an address marked as FTX on the chain has once again transferred 250,000 SOL (worth about $10.9 million) to Binance. The current balance of SOL in the FTX address is about 1 million SOL (worth $43.4 million).
More than 453,000 SOL transferred from unknown wallet to Kraken
According to Whale Alert monitoring, at 16:46:07 today Beijing time, 453,344 SOL (approximately $18,768,952) was transferred from an unknown wallet to Kraken.
FTX deposited 1.21 million SOL and 1,583 ETH to Binance and Kraken in the past 20 hours
Spot On Chain monitoring shows that FTX has deposited 1.21 million SOL (worth $48.6 million) and 1,583 ETH (worth $3 million) into Binance and Kraken in the past 20 hours. Since October 24th (13 days ago), FTX and Alameda have transferred a total of 31 tokens worth $310 million to exchanges.
Circle Lianchuang: Euro stablecoins EURC and CCTP will soon support Solana
Jeremy Allaire, co-founder and CEO of stablecoin issuer Circle, announced on social media that Circle's new products will soon launch on the Solana blockchain, including its Euro stablecoin EURC and cross-chain transfer protocol CCTP. Once CCTP completes its support for Solana, users will be able to send and receive USDC stablecoins between Ethereum, Cosmos, AVAX, and other Layer 2 networks that support EVM.
Solana Overtakes Polygon in Daily DEX Volume and Transactions, Continues Upward Momentum
Solana (SOL), a competitor to Ethereum (ETH), has surpassed Polygon (MATIC) in daily decentralized exchange (DEX) volume, according to data from blockchain tracking platform Artemis. Solana's DEX volume was approximately $240.5 million, while Polygon's was $137.5 million. Solana also surpassed its competitors, including ETH and Avalanche (AVAX), in terms of daily transactions, with 19.5 million on November 2nd. Solana's market cap has also been outpacing its competitors since the start of October, and its price has increased by about 300% since January 1, 2023.
Solana Foundation announces the list of winning projects for the 8th Hackathon "Hyperdrive"
On November 4th, the Solana Foundation announced the winners of the 8th Hackathon "Hyperdrive". The hackathon had a prize pool of up to $1 million in cash and seed funding. The grand prize winner was the AI chatbot FluxBot, which received a prize of 50,000 USDC. The remaining list of winners is as follows:
Mobile DApps for users: Sollinked, Kizzy, Cliq, BinDApp, 3TV;
Crypto infrastructure: epPlex, Ping, SolKeeper, Firethree, DeAuth;
AI: Wysdom, Aperture, ByteIn, FRIDAY, GuardianAI;
Games and entertainment: Solciv, SyncStudios, HyperdriveHavoc, Geoverse, FootballClubOwners;
Finance and payments: Alexandria, Luxhaus, SurferFinance, Juicer, SeagullOne;
DePIN: Shaga, Dain, Albedo, Vaxchain, Clusttr; ·DAO and network countries: PubkeyLink, Tatami, Hub3, DAOCre-8, Onda.
Solana CEO: About 20% of Solana projects are invested by FTX or Alameda
Solana co-founder and CEO Anatoly Yakovenko stated that about 20% of Solana's projects are invested by FTX or Alameda, and about 5% of Solana's projects have funds stored on the FTX exchange. For startups, the collapse of FTX is disastrous, as "start-up teams are watching their competitive track disappear." (cointelegraph)
