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SOL’s Price Prints a 24-Hour Gain Despite FTX U.S. Hearing

Published 2022-12-14, 04:49 a/m
© Reuters. SOL’s Price Prints a 24-Hour Gain Despite FTX U.S. Hearing

  • FTX’s former CEO has been arrested on charges of fraud by the SEC.

  • Solana was one of the projects whose price got severely impacted by the FTX debacle.

  • SOL’s price is now approaching the next resistance level at $14.31.

FTX has been making the headlines over the last 24 hours as the U.S. hearing for the former CEO, Sam Bankman-Fried, has commenced. The disgraced CEO has been arrested and charged with fraud charges by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

Despite this, Solana (SOL) has been able to post gains. The altcoin continued printing green candles even as FTX’s rabbit hole continued to deepen by the day. When the crypto market first crashed on November 6 of this year due to the FTX collapse, FTX Token (FTT) experienced the biggest price decline, followed by SOL.

At press time, the price of SOL has risen 6.72% over the last 24 hours, according to the crypto market tracking website, CoinMarketCap. This has also flipped its weekly performance into the green, with SOL’s price up 0.37% over the last 7 days. As such, SOL now trades at $13.92.

The post SOL’s Price Prints a 24-Hour Gain Despite FTX U.S. Hearing appeared first on Coin Edition.

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