Anna Bliokh\/E+ via Getty Images<\/p>\n<\/figcaption><\/figure>\n<\/p>\n Solana (SOL-USD<\/a>) tokens soared 42.3%<\/span> in Thursday afternoon trading as most major cryptocurrencies, including bitcoin (BTC-USD<\/a>) +14%<\/span> and ethereum (ETH-USD<\/a>) +20.3%<\/span>, pared a solid chunk of this week’s losses following softer inflation figures for October<\/a>. <\/p>\n The upswings throughout the cryptoverse came even as Sam Bankman-Fried’s imploding FTX crypto exchange continues to steal the spotlight. Following an abrupt liquidity crunch, FTX has been on a capital-raising spree, only to be denied by rival Binance in what was a short-lived non-binding bailout agreement. Since then, FTX has reportedly held talks with a number of investors for raising $9.4B to rescue the once-mighty firm. <\/span><\/p>\n It’s important to note that Solana (SOL-USD<\/a>) has deep ties with SBF’s crumbling crypto empire, as a big portion its coin supply was said to have been controlled by FTX as well as its sister company Alameda Research, a trading firm of which its finances were recently brought into question. <\/p>\n The Wall Street Journal<\/em> reported earlier that FTX loaned out billions of dollars worth of customer funds to back risky wagers<\/a> by Alameda.<\/p>\n Despite Solana’s (SOL-USD<\/a>) monster move to the upside Thursday, it remains some 47%<\/span> lower in the past five sessions and -90%<\/span> year-to-date, in a similar downward spiral seen among the major names. <\/p>\n On Wednesday, Crypto.com paused deposits and withdrawals of Solana ecosystem stablecoins USDC (<\/a>USDC-USD<\/a>) and USDT (USDT-USD<\/a>). <\/p>\n<\/div>\n![\"Abstract](\"https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/1273484747\/image_1273484747.jpg?io=getty-c-w750\")