Solana was scrutinized extensively after speculations appeared connecting it to the bankrupt FTX. The network’s perception of FTX was drastically altered by the occurrence, and the resulting fear, uncertainty, and doubt (FUD) proved challenging to dispel. Almost 9% of the token’s value was wiped out today, perhaps because of the fallout from the exchange’s downfall, indicating…
On the day following the implementation by the US Federal Reserve of the 50-basis point hike, Solana (SOL) saw accumulation rather than a sell-off, despite the altcoin’s 4% decline. Prices for Bitcoin and Ethereum and other cryptocurrencies fell on December 14 as reports surfaced that the central bank raised its interest rates. The situation is…
In the previous month, Solana (SOL) has failed to make progress as the token fell victim to the market contagion brought about by the collapse of crypto exchange FTX. As of this writing, all time horizon indicators for Solana’s native token SOL are red. Since succumbing to market contagion, Solana has continued to bleed Using…
Solana is among the hardest hit by the demise of FTX, as the two companies have collaborated to establish Serum, a decentralized derivatives market. This led to Solana being closely associated with the Sam Bankman-Fried crypto exchange, with more than $900 million worth of SOL being held by FTX. Let’s have a quick overview: The…