Category Archives: Solana News

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…]

The total value locked (TVL) in Solana (SOL) network’s decentralized finance (DeFi) ecosystem stood at $330 million as of Nov. 14 — signifying a drop of 96.75% from a peak of  $10.17 billion in December 2021, according to DeFiLlama data. TVL  in Solana DeFi progressively fell throughout 2022, driven by SOL’s dropping value and the larger[Read more…]

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…]

After FTX announced decision to opt for chapter 11 bankruptcy, a top tier crypto exchange announced it halted withdrawals and deposits. After FTX announced decision to opt for chapter 11 bankruptcy, a top tier crypto exchange announced it halted withdrawals and deposits. The meltdown of Sam Bankman-Fried related crypto companies has already had a negative ripple on[Read more…]

China-based crypto venture firm Sino Global Capital has broken its silence about the extent of its exposure to FTX. The company said its direct exposure to FTX, the exchange, “was confined to mid-seven figures held in custody,” in a letter published on Twitter on Nov. 15. It did not specify an exact sum. The letter added that[Read more…]

Solana (SOL) Foundation revealed that it held roughly $1 million worth of cash or its equivalent -less than 1% of its assets- on bankrupt crypto exchange FTX as of Nov. 6, according to a Nov. 14 blog post. According to the Foundation, it also had 3.43 million FTX tokens (FTT) and 134.54 million Serum (SRM) tokens[Read more…]

The links between Solana, FTX, and Alameda are made clear as SOL continues to fall in price, now down 57% over the past week. Most major cryptocurrencies are down significantly over the past week amid the destruction of popular exchange FTX, but Solana (SOL) has taken a tougher pounding than most, apparently exacerbated by ties to FTX and founder Sam[Read more…]

Liquidity hub Serum had to be forked as it was compromised when a hack targeted the crypto exchange FTX. Developers Launch New Fork The widely used Solana-based liquidity hub Serum was compromised in the November 11 hack of the FTX crypto exchange, which led to several unauthorized transactions. As a result, Solana developers worked through[Read more…]

Solana crashed by around 12% in the past 24 hours as the market continues bleeding out following the FTX fallout. The cryptocurrency market continues to bleed out and in the past 24 hours, its total capitalization shed another $20 billion. The majority of coins are well in the red and the broader sentiment remains particularly[Read more…]

Some people are hesitant to invest in cryptocurrencies, especially since the crypto winter, whereby many tokens suffered a big dip in their value. Many analysts have predicted that the market should improve in the coming months and have tipped new currencies such as Rocketize Token (JATO) and Litecoin (LTC) as the ones to help token holders gain[Read more…]