Solana, Avalanche, and FTX Tokens Experience Significant Gains
Over the past week, while major cryptocurrencies have remained steady or slightly decreased in value, certain digital assets like Solana (SOL), Avalanche (AVAX), and FTT (FTX) have seen substantial gains. According to a report by Santiment, a blockchain and cryptocurrency behavior analysis platform, these assets have experienced an increase in value of at least 40% during this bullish period.
Solana Adds 40% to its Value in a Week
SOL is currently trading at $60.83, showing a 15.56% increase in the last 24 hours and a significant 40.79% increase over the past 7 days. This surge has caused its price to rise from $43 to $60. SOL is also trading above its 200-day moving average and has outperformed 93% of the top 100 crypto assets over the past year.
Avalanche Gained 50% in Value Over 7 Days
AVAX is currently priced at $19.61, with a 17.13% increase in the last day and an impressive 52.27% increase over the past week, taking its price from $12.80 to $19.61. It has also seen a 48% increase in value over the last year and is trading above its 200-day moving average.
FTX Token Nearly Tripled its Value Over the Past Week
The FTX token has nearly tripled in value over the past week, currently trading at $3.57 due to gains of 11.90% in the last 24 hours and a remarkable 187% increase over the past 7 days. Starting at $1.2, it briefly crossed the $5 mark on November 10 before settling at its current level of $3.57.
Hot Take: Bullish Trend for Select Digital Assets Continues
It’s clear that while flagship cryptocurrencies have remained relatively stagnant, certain digital assets like Solana, Avalanche, and FTX tokens have experienced significant gains over the past week. Factors such as interest from institutional investors and favorable market conditions are likely contributing to this bullish trend for these assets.
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