The price of Solana’s SOL (SOL) experienced a 20% gain between Sept. 28 and Oct. 6, but is the rally a tandem move with Bitcoin (BTC), or is it being driven by other factors? Prior to the price breakout — or perhaps, its recovery — SOL faced a turbulent period after a U.S. court approved the sale of $1.3 billion in SOL from the bankrupt exchange FTX.
The bankruptcy court has taken measures to ensure that the liquidation of FTX assets won’t become a burden for the crypto market, demanding the sale to occur through an investment adviser in weekly batches in accordance with preestablished rules.