Solana price hits $200 ahead of SBF's sentencing

Source Fxstreet
  • Solana continues its positive momentum as its market capitalization exceeds that of  Binance Coin.
  • Sam Bankman-Fried's imminent sentencing may be behind SOL's growth.
  • SBF should face 40 to 50 years in prison sentence, says federal prosecutors.

Solana (SOL) has flipped the Sam Bankman-Fried curse into a boon, which has resulted in an explosive uptrend. With the interest for SOL hitting new all-time highs and the recent uptick to $200, this Ethereum-competitor is likely to remain a popular token going forward.

Solana interest peaks

Solana has registered 2,468% in gains since forming a bottom at $8 in December 2022. This massive growth slowed a bit coming into the new year, but March saw the Layer 1 token recording new highs. Currently, SOL trades at $200 and looks like it could climb higher.

SOL/USDT 1-week chart

SOL/USDT 1-week chart

Beyond price, almost everything connected to Solana has been growing; the ecosystem, the total value locked, trading volume, user activity and so on. Notably, its meme coin sector has received a lot of attention which has given rise to the likes of dogwifhat (WIF), Myro (MYRO), Book of Meme (BOME) and so on.

Additionally, the Google trends data also shows that interest in Solana overtook the previous all-time high formed in late 2021 and hit a record high of 100. This development goes to show the popularity surrounding the Ethereum-competitor.

Read more: Solana Price Prediction: Is SOL the altcoin to buy this bull cycle?

Solana Google Trends

Solana Google Trends

SBF’s 50-year sentencing and impact on SOL

While the recent uprise in altcoins has been largely attributed to the increasing Bitcoin (BTC) price, Solana's situation has another major factor layered in its surge – Sam Bankman-Fried (SBF). Before his conviction SBF and the companies associated with him had a major stake in SOL. As a result, when the FTX saga went down, its ripple effect caused Solana and the connected ecosystem to nosedive.

While SBF's involvement seemed like a curse for SOL's ecosystem, it may have been responsible for its recent surge. But, with the SBF sentencing set to take place on March 28, things could get a bit dicey for Solana again.

Also read: FTX and Alameda wallets deposit over $24 million in Ether to Coinbase, ETH price at risk of decline

Recap of FTX before SBF sentencing

  • Barely two years ago, SBF was the celebrated young leader of the FTX cryptocurrency exchange. However, after the exchange collapsed in November 2022, his activities were brought under the radar of law enforcement agencies. 
  • A year later, in November 2023, he was convicted of seven fraud and conspiracy charges, carrying a combined sentence of 110 years in prison. 
  • The federal probation department had separately recommended a 100-year sentence. But prosecutors have stated that a 40 to 50-year sentence would be more appropriate considering the severity of the crime – stealing at least $10 billion – and his relative youth. 
  • This comes off the back of a filing by SBF's lawyers in February, requesting a sentence of at most 6.5 years.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
The Fed will sit still on October 28 — but 100 of 100 economists now expect a December hikeA Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.
Author  Irene Q.
Oct 22, Thu
A Reuters poll run October 16-20 found 94 of 100 economists expecting the Fed to hold at 3.75-4.00% on October 28 — and all 100 expecting a hike in December, against less than half a month earlier. The market is close to the same price, with CME FedWatch at roughly 17% for October and 82.8% for December. With the Fed in blackout since October 17, here are the five dates that decide the rest of the year, what each one is priced for, and the two directions each can take.
placeholder
Gold falls to two‑month low below $4,050 as oil spikesGold price (XAU/USD) falls to the lowest in more than two months near $4,025 during the early Asian session on Friday. The precious metal faces some selling pressure as escalating tensions in the Middle East send oil surging ahead of a Federal Reserve (Fed) policy meeting.
Author  FXStreet
Oct 23, Fri
Gold price (XAU/USD) falls to the lowest in more than two months near $4,025 during the early Asian session on Friday. The precious metal faces some selling pressure as escalating tensions in the Middle East send oil surging ahead of a Federal Reserve (Fed) policy meeting.
placeholder
Gold Price Analysis Today | Forex Gold Analysis | XAU/USD Analysis - October 23, 2026Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 23, 2026. Read on for the details.
Author  Mitrade
Oct 23, Fri
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for October 23, 2026. Read on for the details.
placeholder
Nasdaq closes at 26,008.86 — 8.9 points above 26,000, and the credit market never blinkedThe Nasdaq Composite fell 2.60% to 26,008.86 on October 22, its worst session since June, as Meta sank 6.98% on 2026 capex guidance of $135–145 billion. But the equal-weight S&P 500 rose 0.73%, high-yield credit was flat and 10-year yields fell 20 basis points. This was an AI de-rating, not a risk-off event — here is the transmission chain, the 29,000 / 28,200 levels and what would prove it wrong.
Author  Irene Q.
Oct 23, Fri
The Nasdaq Composite fell 2.60% to 26,008.86 on October 22, its worst session since June, as Meta sank 6.98% on 2026 capex guidance of $135–145 billion. But the equal-weight S&P 500 rose 0.73%, high-yield credit was flat and 10-year yields fell 20 basis points. This was an AI de-rating, not a risk-off event — here is the transmission chain, the 29,000 / 28,200 levels and what would prove it wrong.
placeholder
Brent tops $113 on Saudi supply risk — but the diesel line in the EIA report is the tellBrent's December contract settled at $113.17 on October 22, up 4.00% and the highest close since May 4, after Saudi Arabia restricted refined-product shipments. The same session's EIA report showed crude stocks down 3.06 million barrels and gasoline down 2.95 million — but distillates built 1.68 million. That single line decides whether $113 holds: here are the data, the 108.8 / 114.0 / 119.3 levels and the two scenarios.
Author  Irene Q.
Oct 23, Fri
Brent's December contract settled at $113.17 on October 22, up 4.00% and the highest close since May 4, after Saudi Arabia restricted refined-product shipments. The same session's EIA report showed crude stocks down 3.06 million barrels and gasoline down 2.95 million — but distillates built 1.68 million. That single line decides whether $113 holds: here are the data, the 108.8 / 114.0 / 119.3 levels and the two scenarios.
Related Instrument
goTop
quote