People have been buying digital tokens like Solana (SOL) and ApeCoin (APE) on the cryptocurrency market in the hopes of becoming rich quickly. Many unfortunate investors missed the large price gains since they needed to get in on the action sooner. Because of the decline in value over the last year, many people who invested[Read more…]
Category Archives: Solana News
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Nov
Nov
Following the bankruptcy of crypto exchange FTX, this statement comes at the wrong time for Solana, which was among the top 5 largest cryptocurrencies by market size only weeks ago. With a 25.4% decline over the last week, Solana has fallen to the 16th spot in market capitalization. Since its record high of $256, it has[Read more…]
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Nov
Nov
While it had no financial exposure to the fallen exchange, Metaplex appears to be suffering from reputational damage spreading to Solana. Solana NFT protocol maker Metaplex announced on Thursday that it has undergone a company-wide round of layoffs, as the contagion induced by crypto exchange FTX’s collapse last week continues to spread across the Web3 ecosystem. [Read more…]
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Nov
Nov
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…]
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Nov
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Crypto venture firm Multicoin Capital is looking to write off all of its assets currently on FTX due to the bankruptcy proceedings. The FTX contagion is spreading wide and fast! On Thursday, November 17, crypto venture giant Multicoin Capital told its investors that the FTX collapse has pushed the fund down by a staggering 55% over the[Read more…]
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Nov
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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…]
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Nov
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Cardano developer Emurgo announced plans to issue a U.S. dollar-pegged stablecoin called USDA on the network in early 2023. Emurgo, which functions as Cardano’s official commercial arm, said USDA will be the first regulated stablecoin on the blockchain that is backed by a fiat currency. The Cardano developer also revealed that USDA will be the[Read more…]
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Nov
Nov
In a letter to its investors, one of the industry’s most notable crypto venture firms, Multcoin Capital, has revealed its thesis for the coming weeks. Managing partners Kyle Samani and Tushar Jain write in a 3,400-word letter that the FTX fiasco does not spell doom for the crypto industry, as critics like Peter Schiff and Nassim Taleb recently did.[Read more…]
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Nov
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The wMarket Update condenses the most important price movements in the crypto markets over the reporting period, published 07:45 ET on weekdays. Over the last 24 hours, the cryptocurrency market cap saw net inflows of around $8 billion and currently stands at $836.19 billion as of press time — up 0.98% from $828.16 billion on[Read more…]
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NFT protocol Metaplex laid off staff due to to the “indirect impact” of the collapse of crypto exchange FTX. While the company said its treasury was not directly impacted and that its fundamentals remain strong, it will take a more conservative approach moving forward, CEO and co-founder Stephen Hess said on Twitter. Metaplex is an ecosystem of[Read more…]
