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Solana’s FTX trouble failed to impact this SOL segment growth but is it enough

One of the major cryptocurrencies that was impacted by the FTX debacle was Solana [SOL]. Factors such as the Project Serum and Sollet-wrapped assets played a significant role in increasing Solana’s exposure to the FTX collapse. Solana’s total value locked (TVL) depreciated by 30% after the FTX saga unraveled. One reason for the FUD around Solana was Project Serum, the central[Read more…]

Solana NFT Protocol Metaplex announces layoffs after FTX’s collapse

Stephen Hess, Co-founder and Chief Executive Officer (CEO) of the Solana NFT protocol Metaplex, has announced that it is laying off several individuals in the wake of FTX’s collapse. Hess added that Metaplex, the base layer of the Solana NFT ecosystem, is required to let go of its employees, even though its treasury isn’t directly impacted by[Read more…]

Solana: Gauging if HODLing SOL is really the way to go in the near term

Post the FTX drama, Solana’s [SOL] association with Sam-Bankman Fried propelled the altcoin to lose over 60% of its value in a matter of few days. Consequently, SOL slipped below the vital $27-$30 range to enter a relatively low liquidity zone. SOL’s funding rates depicted a slight ease in the heightened selling pressure over the last few[Read more…]

Solana [SOL] – What next for holders after exchanges take this drastic step

According to statements released by OKX, Binance, and ByBit, some Solana blockchain tokens may be delisted. No justifications were provided for this move and no mention of re-listing them was made either. Now, while Binance claimed that it was temporary, it did not indicate when it would resume. OKX delists, Binance suspends… Binance said that it has temporarily suspended the[Read more…]

Evaluating the state of Solana [SOL] ecosystem post FTX demise

Severely impacted by the sudden collapse of cryptocurrency exchange FTX, total value locked (TVL) held across decentralized finance (DeFi) protocols housed within the Solana [SOL] network has since declined by 67%, data from DefiLlama revealed. According to the DeFi TVL aggregator, on 6 November, when Binance founder and CEO Changpeng Zhao first tweeted about his exchange’s decision to liquidate[Read more…]

Can Solana traders expect a move to $18 after the bounce from $12.5?

Solana has been one of the largest market-cap assets that are not a stablecoin in the crypto ecosystem for quite a while now. Its recent drop from $37 has wiped out nearly 60% of its value in the market, in the aftermath of the FTX collapse. A recent article highlighted how a bounce could occur at the $13.5 region. In recent[Read more…]

SOL’s revival could be delayed despite Solana Foundation’s latest declaration

Ever since the FTX saga began, rumors have been rife around Solana. This was due to the fact that Solana’s early investors included Alameda, FTX’s investment arm. Anatoly Yakovenko, the Solana co-founder, tweeted briefly to indicate that they were not exposed. However, the tweet did more harm than good by creating more questions than it answered. However, in[Read more…]

Breathe SOL, Magic Eden might be bringing some positives to the network

Solana [SOL] had been mired in a number of controversies over the past few weeks, including FTX‘s collapse and the token unlock news. All of this news could have thus, contributed to the decline of the SOL token. Still, new data from Messari suggested that the Solana Non-Fungible Token (NFT) space might have been able to weather the storm. This was despite[Read more…]

Solana’s Anatoly Yakovenko has this to say about SOL’s daunting past 

The year of 2021 has been one filled with challenges and hardships for Solana [SOL]. The network had been plagued with several outages, some even causing its native token SOL to take a double digit hit. SOL community members, too played an active role and were vocal in their criticism of Solana’s reliability issues. So far, the network[Read more…]

Unraveling Solana’s [SOL] rebounding chances from this support zone

An impressive streak of green candles post a rebound from its multi-weekly trendline support (white, dashed) supported Solana [SOL] in swaying above the 20/50/200 EMA. The crypto saw an expected reversal from the $37-ceiling after a bearish hammer-like setup. In the meantime, the buyers could strive to step in near the 200 EMA to prevent further losses. [Read more…]