Solana’s SOL jumped nearly 20% in 24 hours to lead the charge among crypto majors in an otherwise range-bound market.
SOL crossed $63, reaching a level previously seen in May 2022. Daily trading volumes also spiked to over $3.5 billion, up more than 70% from average levels of $2 billion at the start of November.
While there was no immediate catalyst for Wednesday’s bump, optimism around Solana has recently bumped after the end of Sam Bankman-Fried’s trial. Bankman-Fried was a prominent backer of Solana and acquired over $1 billion worth of the tokens through his companies Alameda Research and FTX.
SOL prices took a
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