Category Archives: Solana News

Solana developers are forking FTX-developed token liquidity hub Serum after it may have been compromised in a hack on FTX.  On Friday, a hacker made unauthorized withdrawals of more than $400 million from FTX. The situation further exacerbated the exchange’s insolvency crisis, which led it to file for Chapter 11 bankruptcy protection. Many Solana developers suspect the hack[Read more…]

Solana price prediction is bearish; as the SOL/USD pair is unable to break above an immediate resistance level of $21.60. Since November 6, the value of the SOL token has fallen by more than 70% to $11.50.  However, a bullish retracement was triggered by weaker US CPI figures and technical indicators, keeping SOL 60% higher from[Read more…]

Solana, once championed as the “Ethereum Killer” has seen the price of its native token SOL tank by roughly 47% over the past week dominated by the FTX train wreck. SOL is the second largest-holding of Alameda Research, and was heavily promoted by former FTX CEO Sam Bankman-Fried, who resigned today.  According to an earlier report by CoinDesk, Alameda held $292[Read more…]

Crypto exchange FTX, which is currently fighting a battle with rival Binance, seems to have stopped processing clients’ requests for withdrawals, according to on-chain data. The last outgoing transaction from FTX on the Ethereum blockchain took place at 6:37 a.m. ET, more than two hours ago, data from Etherscan show. It’s a similar story on the[Read more…]

The price of Solana and FTT might end up being the most important data points for the trajectory of the crypto market this week, according to B2C2.  In a note published Monday, the market maker joined a chorus of firms raising questions in the wake of the clash between Binance’s Changpeng “CZ” Zhao and FTX’s[Read more…]

The price of Solana (SOL) fell 9% amid a spat between the founders of Binance and FTX crypto exchanges, Changpeng Zhao and Sam Bankman-Fried Aggregate open interest across SOL, of which $3.37 billion appear on the balance sheet of Alameda, also fell just over 13% over the last four hours, data from Coinglass show. The token’s prominence[Read more…]

One of the largest trading firms operating in the crypto space believes a “budding uptrend” is forming in the volatile market for digital assets.  In a Twitter thread, Cumberland—the crypto unit of trading powerhouse DRW—said that the uptrend is underpinned by what it says is a weakening U.S. dollar and the adoption of cryptocurrencies by new[Read more…]

Sam Bankman-Fried’s (SBF) crypto empire was rattled yesterday when Binance began selling off its 23 million FTT tokens, worth more than $500 million. In a statement made shortly after the transaction, Binance chief Changpeng Zhao (CZ) said that the exchange intends to sell all of its FTT tokens in the coming months. This is in response to[Read more…]

Solana has faced many challenges this year, but Breakpoint’s Games Day showed that the Solana GameFi ecosystem has huge potential. Solana’s Rocky Year  If last year’s Breakpoint conference was an all-out celebration that landed as SOL soared to staggering highs, this year’s event felt a lot more subdued. Landing in the midst of crypto winter,[Read more…]

Solana (SOL) News Updates After FTX Token Sale Announcement: After gaining an encouraging push with the Google partnership news, Solana (SOL) price appears back at square one now. With nearly 13% price drop in last 24 hours, the cryptocurrency has all but lost its gains from the Google Cloud news. Meanwhile, a section of the crypto[Read more…]