Three reasons why the price of solana (SOL) is in the railzo this week.

On 28 days and 6 days, the price of SOL (SOL) is 20%. What does the rally cost for a movement parallel to the Bitcoin (BTC) amount or price? Before the price breakout - or for the strength of its fightback - SOL faced a period of turbolento, following statutory court approval of SOL's $1.3 billion sale in the framework of the FTX bancarotta exchange.

Daily chart of SOL/USD. Source: TradingView The bankruptcy court has taken steps to ensure that the liquidation of FTX's assets does not become a burden on the cryptocurrency market, requiring the sale to take place through an investment advisor in weekly batches according to pre-established rules. After the impact initial, which dropped the price of SOL to two-month lows of $17.34 on September 11, some degree of confidence emerged among bulls who re-established the $20 support on September 29. This movement coincided with the successful update to version 1.16, driving a 16% increase in SOL over the following seven days. SOL's rally was also supported by growth in the use of decentralized applications (DApps) and the increase of non-fungible token (NFT) volumes on Solana. SOL price is now attempting to establish support at $23 and consolidate its position as the fifth-largest cryptocurrency (excluding stablecoins) by market capitalization, surpassing the $9.22 billion ADA (ADA).