Friday, December 2, 2022
HomeMarket AnalysisSolana Collapses due to FTX Scandal

Solana Collapses due to FTX Scandal

Solona (SOL), A Scalable Blockchain Infrastructure project down over 60% for the last week. It’s currently trading 95% down from its all-time high. Solona was around 259$ in Nove 2021 and now trading at around 14$.

SOL collapses due to FTX filing for Chapter 11 bankruptcy three days later due to a cash crunch. On Nov 8th, Sol crashed by Nov. 8, by 51.5%, and the sol market is affected with a loss of 5.5$ billion.

IMAGE CAPTURED FROM BINANCE.COM

Solana is a token issued through the Solana Blockchain, which makes it feasible to develop decentralized finance or Defi tasks that provide economic offerings which include loans, mortgages, and financial products.

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