Category Archives: Solana News

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…]

As the crypto exchange FTX unravelled this month, the spotlight has remained firmly on its CEO, Sam Bankman-Fried, who cultivated a public persona as an altruist while lobbying top regulators and politicians in Washington.  But while SBF, as he’s universally known, was appearing on podcasts and testifying before Congress, a quieter personality was beavering away behind the[Read more…]

Despite the bloodshed in the cryptocurrency market caused by the liquidity crisis at FTX, some digital assets are starting to record modest gains, including Solana (SOL), leading analysts to try and predict its future price. One of them is a reputable pseudonymous crypto trading expert, maikisch, who observed the chart patterns of Solana and deduced that the decentralized finance (DeFi) asset “has been[Read more…]

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 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…]