Revival of the Solana ecosystem by FTX failure.
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The Solana ecosystem is suffering from recent news and bankruptcy rumors surrounding FTX and Alameda Research. SOL is down 45% at the time of this writing. The data shows that more than 11% of the token supply can be opened and released to the market in less than 14 hours.
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FTX and Alameda, which appear to be collapsing, are dragging the entire Solana ecosystem down with them, and data suggests that chain users are now rushing for the exits.
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The Solana ecosystem is expanding due to the recent FTX disaster.
It is a SOL token at the time of writing. Shopping At $12.9, it's down 45% in the last 24 hours, per CoinGecko data. Solana's blockchain-native token is taking a beating following news that two of its biggest backers, crypto exchange FTX and quantitative trading firm Alameda Research, appear to be bankrupt – FTX is said to have an $8 billion hole in its balance sheet. Sheet.
This cannot be the end of SOL's dismal price performance. according to Solana Compass, an unprecedented number of SOL tokens currently uncapped are in progress. The website currently has 60,399,401 SOL tokens (worth $755 million at the time of writing) listed as “subscribers”; This means that at the beginning of the next period – after 14 hours, these signs will be opened. Solana has a total supply of 533,113,807 tokens (per CoinGecko). In other words, more than 11% of the token supply could soon be dumped on the markets.
Meanwhile, Lido's staked SOL token, stSOL, has no parity with the coin SOL itself. Shopping For $12.1 decentralized Solana exchange Orca – which has a lot of liquidity for the unit. The price action suggests that traders are willing to exit their locked SOL positions to SOL for a 6.2% loss, possibly in anticipation of the token opening. As the end of the epoch approaches, the difference between stSOL and SOL may increase.
So are the main coins of the Solana ecosystem. Nasal discharge. Serum, Radium, Soland, Marinade Stacked SOL, and Bonfida—all significant projects native to the Solana ecosystem—declined by approximately 53%, 52%, 48%, 60%, and 47%, respectively. The price of the main Solana NFT sets has also been increased. For example, DeGods saw the price floor. Crash From yesterday, from 190 SOL to 125 SOL (34.21% discount). Trading volumes are also rising sharply across all sets on Magic Eden, suggesting that traders may be shorting NFTs in anticipation of further damage.
Disclosure: At the time of writing, the author of this article owns BTC, ETH and many other cryptocurrencies.
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