The SOL cryptocurrency continues crashing amid the FTX crisis, plummeting 7% on the news of exchanges halting deposits of Solana-based stablecoins. Major cryptocurrency exchanges continue to carry out measures in the aftermath of FTX collapse, now halting deposits in Solana-based Tether Binance announced on Nov. 17 that deposits of Solana-based USDT and USDC have been “temporarily suspended[Read more…]
Category Archives: Solana News
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Nov
Nov
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…]
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Nov
Nov
BlockFi, a cryptocurrency platform offering multiple financial products like low-interest loans and a crypto rewards credit card, could become the latest casualty following the FTX collapse that continues to hurt the entire cryptocurrency market. Although the company initially denied having most of its assets in the cryptocurrency exchange, management has now admitted having significant exposure to[Read more…]
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Nov
Nov
Solana, popularly dubbed Ethereum’s killer, dipped rapidly following the FTX collapse. As per the market overview, SOL lost more points than every other asset class. Solana dipped Initially, Sam Bankman-Fried applauded the coin and its blockchain for its seamless efficacy. Furthermore, he asserted that Solana provided unquantifiable utility to its users. Hence, this quality made[Read more…]
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Nov
Nov
Solana emerged as the week’s worst-performing crypto asset as one of the project’s early backers FTX went insolvent. It’s been a choppy week for Solana. The 15th-largest cryptocurrency by market capitalization has lost 41.2% of its value over the past week, according to data from Coingecko. SOL, Solana’s native token, dropped from $20.16 on November 9 to[Read more…]
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Nov
Nov
Investors in the investing app Robinhood fear that contagion from FTX could affect their trades being processed by Jump Crypto. The link between Robinhood, Jump, and FTX is direct: Sam Bankman-Fried (SBF) notably owned 7.6% of Robinhood’s stock and once claimed to be preparing a full acquisition offer for Robinhood. Institutional investors are selling first and asking[Read more…]
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Nov
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Bitcoin and Ether fell together with the majority of the top 10 cryptocurrencies by market capitalization on Wednesday morning, following reports that Russian missiles killed two people in Poland. According to Reuters, paramedics claimed that two individuals were killed in an eastern Polish village near the Ukrainian border. Other news reports disclose the casualties were caused by what[Read more…]
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Nov
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According to a new independent report, Luna Foundation Guard (LFG) transferred more than 52,000 bitcoin (BTC) from its reserves to Jump Trading as part of its efforts to defend the price of terraUSD (UST). However, observers have already started to point out that there are certain, crucial details missing. The report by third-party auditing firm, JS[Read more…]
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Nov
Nov
The sudden decline of FTX has created a devastating effect on the entire Bitcoin and crypto market. Panic shorting of digital assets is the order of the day, with Solana taking a massive hit as many investors dumped the coin. FTT, the native crypto asset of FTX, has lost almost all its investor value. Most[Read more…]
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Nov
Nov
Kana Labs is buliding a multi-functional cross-chain aggregator platform, starting with Solana and Aptos, with future plans for EVM-compatible chains. Kana Labs on Solana, Aptos, Neon, Shardeum Kana Labs is an emerging Decentralized Finance (DeFi) project aiming to break down walls between blockchains, regardless of whether they are Ethereum Virtual Machine (EVM)-compatible or not. Kana Labs’ aggregator protocol[Read more…]
