Solana price climbed 88% over the past month. Bitcoin’s October rally fueled a bullish outlook among market participants, driving gains in altcoins like SOL.
Former BitMEX CEO Arthur Hayes admitted to buying Solana for the token’s recent price performance. Solana price yielded 88% gains over the past month, rallying alongside Bitcoin in October. SOL price rally resisted the bearish catalysts like FTX and Alameda’s Solana sale over the past few weeks.
Total Value Locked in Solana as seen on DeFiLlama The activity on Solana has increased, there is a 25% increase in daily active addresses and transactions, based on data from Santiment. The volume of daily trades climbed to highs previously seen in November 2022, when the bankrupt FTX exchange collapsed. Former BitMEX CEO Arthur Hayes attributed Solana’s price action to his SOL purchase. The crypto community looks up to Hayes for identifying the most profitable positions in altcoins.
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