- Amid the significant bull run, the SOL price is up 33.61% in the last 7 days.
- If the price goes below $30.2 mark then it will likely head towards the $28.3 support level.
The recent Solana (SOL) transactions made by defunct crypto exchange FTX have garnered a lot of attention. PeckShieldAlert reported today that a whopping 470,000 SOL tokens worth $15 million were moved to an address affiliated with FTX on Solana and labelled as cold storage. The funds were partially transferred to CEXs like Binance and Coinbase.
Wintermute, a leading worldwide algorithmic trading company, received $2.5 million in cryptocurrency and other assets from another cold storage tagged address for FTX on Ethereum. However, several experts advise against jumping to conclusions, since the hosting venues might only be providing custodial services for the troubled crypto trading platform.
Significant Bull Run
The latest research from CoinShares provides insight into the shifting currents of the altcoin market. Information suggests that Solana has taken the lead among altcoins. According to the research, Solana had the second-highest inflow of any cryptocurrency, at $15.5 million last week, behind only Bitcoin. As a result, it has reached an annual total of $74 million.
At the time of writing, SOL is trading at $32.10, up 0.10% in the last 24 hours as per data from CoinMarketCap. However, the trading volume is down $3.70%. Amid the significant bull run, the SOL price is up 33.61% and 65.41% in the last 7 and 30 days respectively.
If the price continues the uptick and holds above the $30.2 support level, then it will likely test $36.9 level. Breaking over this key level, will likely see price testing $45.6 resistance level. However, if the price goes below $30.2 mark then it will likely head towards the $28.3 support level.
